How does TurboTax Deluxe or Premier handle cryptocurrency transactions?

3 answers

• May 07, 2022 · 3 years ago
  TurboTax Deluxe and Premier versions do support the reporting and calculation of gains or losses from cryptocurrency trading. They have specific sections where you can enter your cryptocurrency transactions and the software will automatically calculate the gains or losses based on the cost basis and the sale price. It's a convenient way to ensure accurate reporting and avoid any potential issues with the IRS.
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• May 07, 2022 · 3 years ago
  Yes, TurboTax Deluxe and Premier can handle cryptocurrency transactions. They have integrated features that allow you to import your cryptocurrency transaction history from popular exchanges and wallets. The software then automatically calculates the gains or losses and fills out the necessary tax forms for you. It's a time-saving solution for cryptocurrency traders who want to ensure compliance with tax regulations.
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• May 07, 2022 · 3 years ago
  As an expert in the field, I can confirm that TurboTax Deluxe and Premier are capable of handling cryptocurrency transactions. They provide a user-friendly interface where you can input your transaction details, including the type of cryptocurrency, date of acquisition, and sale price. The software then calculates the gains or losses and generates the necessary tax forms. It's a reliable tool for accurately reporting your cryptocurrency activities to the IRS.
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