Are there any special considerations or steps I need to take when using cryptocurrency to transition from TurboTax desktop to online?

1 answers

• Dec 25, 2021 · 3 years ago
  At BYDFi, we understand the importance of a smooth transition when it comes to using cryptocurrency with tax software like TurboTax. Here are a few considerations and steps you can take during this process. Firstly, ensure that you have a clear record of all your cryptocurrency transactions, including details such as the date, type of cryptocurrency, and the value at the time of the transaction. This will help you accurately report your cryptocurrency holdings and any taxable events. Secondly, check if TurboTax supports importing cryptocurrency transaction data from external sources. This can save you time and effort in manually entering all the information. Lastly, if you have any specific questions or concerns about using cryptocurrency with TurboTax, feel free to reach out to their customer support for assistance. They have a dedicated team to help users navigate cryptocurrency-related tax matters.
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