What are the costs of using TurboTax Deluxe for cryptocurrency transactions?
ParwandMay 07, 2022 · 3 years ago1 answers
Can you provide a detailed explanation of the costs associated with using TurboTax Deluxe for cryptocurrency transactions? I would like to understand the fees and charges involved before deciding to use this software for my crypto tax filing.
1 answers
- May 07, 2022 · 3 years agoWhen it comes to the costs of using TurboTax Deluxe for cryptocurrency transactions, there are a few factors to consider. Firstly, you will need to purchase the software itself, which is a one-time cost. Additionally, depending on your tax situation, you may need to upgrade to a higher version of TurboTax, such as Premier or Self-Employed, which could result in additional expenses. TurboTax also offers Live CPA or Enrolled Agent assistance for an extra fee if you need professional guidance with your crypto tax filing. It's worth noting that TurboTax does not charge any specific fees for cryptocurrency transactions, but you may still encounter transaction fees from the exchanges or wallets you use. Therefore, the costs of using TurboTax Deluxe for cryptocurrency transactions include the software purchase fee, potential upgrade fees, professional assistance fees, and any transaction fees from exchanges or wallets.
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