How can I use TurboTax to report my cryptocurrency transactions for tax purposes?

1 answers

• stevexDec 22, 2020 · 5 years ago
  Using TurboTax to report your cryptocurrency transactions for tax purposes is a breeze. Here's a simple guide to help you: 1. Open TurboTax and start a new tax return. 2. Look for the section related to investment income and select the option for cryptocurrency transactions. 3. Enter the necessary details of your transactions, such as the date, type (buy, sell, trade), and the amount in USD. 4. TurboTax will automatically calculate your capital gains or losses based on the information provided. 5. Review the information and make any necessary adjustments. 6. Proceed with the rest of your tax return, including reporting other sources of income and deductions. Remember to maintain accurate records of your cryptocurrency transactions throughout the year. If you have any specific questions or need further assistance, TurboTax's customer support team will be happy to assist you.
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