How does TurboTax Deluxe handle cryptocurrency transactions on Schedule D?

3 answers

• Apr 30, 2022 · 3 years ago
  When using TurboTax Deluxe, you can handle cryptocurrency transactions on Schedule D. TurboTax Deluxe provides a specific section for reporting capital gains and losses from cryptocurrency transactions. You will need to enter the details of each transaction, including the date of acquisition, date of sale, cost basis, and proceeds. TurboTax Deluxe does not have a direct import feature for cryptocurrency transactions, so you will need to manually enter the information.
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• Apr 30, 2022 · 3 years ago
  TurboTax Deluxe is designed to handle various types of investments, including cryptocurrency transactions. To report your cryptocurrency transactions on Schedule D, you can use the 'Investment Income' section in TurboTax Deluxe. This section allows you to enter the details of each transaction, such as the type of investment, acquisition date, sale date, and proceeds. TurboTax Deluxe does not have a specific form for cryptocurrency transactions, but you can accurately report them using the provided sections.
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• Apr 30, 2022 · 3 years ago
  As a representative from BYDFi, I can tell you that TurboTax Deluxe does a great job handling cryptocurrency transactions on Schedule D. It provides a user-friendly interface where you can easily enter the details of your transactions. While TurboTax Deluxe does not have a direct import feature for cryptocurrency transactions, you can manually enter the information and accurately report your capital gains and losses. Remember to keep track of your transaction history and consult with a tax professional if needed.
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