How can I use Turbo Tax Deluxe with state to file my cryptocurrency taxes?

3 answers

• Hejlesen BrodersenJul 31, 2021 · 4 years ago
  To use Turbo Tax Deluxe with state to file your cryptocurrency taxes, you can follow these steps: 1. Open Turbo Tax Deluxe and select the option to start a new tax return. 2. Enter your personal information and income details as required. 3. When prompted to enter your investment income, select the option for cryptocurrency transactions. 4. Follow the on-screen instructions to import or manually enter your cryptocurrency transactions. 5. Once you have entered all your transactions, Turbo Tax Deluxe will automatically calculate your gains or losses. 6. After completing the federal tax return, Turbo Tax Deluxe will prompt you to file your state taxes. Follow the instructions to include your cryptocurrency transactions in your state tax return. Please note that Turbo Tax Deluxe may have specific requirements for state tax filing, so make sure to review the instructions and guidelines provided by Turbo Tax for your specific state.
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• miladz2548Sep 05, 2022 · 3 years ago
  Using Turbo Tax Deluxe with state to file your cryptocurrency taxes is a straightforward process. Here's what you need to do: 1. Launch Turbo Tax Deluxe and create a new tax return. 2. Fill in your personal information and income details as required. 3. When asked about your investment income, select the option for cryptocurrency transactions. 4. Import or manually enter your cryptocurrency transactions following the provided instructions. 5. Turbo Tax Deluxe will automatically calculate your gains or losses based on the information you provided. 6. Once you finish your federal tax return, Turbo Tax Deluxe will guide you through filing your state taxes. Make sure to include your cryptocurrency transactions in your state tax return. Remember to review the specific guidelines for your state to ensure accurate reporting of your cryptocurrency transactions.
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• Prabhashini WeerasingheMar 15, 2022 · 3 years ago
  If you're looking to use Turbo Tax Deluxe with state to file your cryptocurrency taxes, you're on the right track. Turbo Tax Deluxe is a popular tax software that can handle cryptocurrency transactions. However, it's important to note that Turbo Tax Deluxe may not cover all state-specific requirements for cryptocurrency tax filing. To ensure you're accurately reporting your cryptocurrency transactions, it's recommended to consult with a tax professional or use a specialized cryptocurrency tax software like BYDFi. These tools are designed to handle the complexities of cryptocurrency taxation and can provide you with the necessary guidance to file your federal and state taxes correctly. Remember, cryptocurrency taxation can be complex, so it's always a good idea to seek professional advice or use reliable tax software to ensure compliance with the latest tax regulations.
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