How can I avoid TurboTax Live and file my cryptocurrency taxes independently?

3 answers

• Mar 20, 2022 · 3 years ago
  Sure, filing cryptocurrency taxes independently can be done by following a few steps. First, gather all your cryptocurrency transaction records, including buys, sells, and trades. Next, calculate your gains or losses for each transaction. You can use a cryptocurrency tax software or a spreadsheet to help with this. Once you have all the necessary information, you can fill out the appropriate tax forms, such as Schedule D and Form 8949. Finally, make sure to report your cryptocurrency gains or losses accurately on your tax return. Remember to consult with a tax professional if you have any specific questions or concerns.
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• Mar 20, 2022 · 3 years ago
  Avoiding TurboTax Live and filing cryptocurrency taxes independently is possible. One option is to use a dedicated cryptocurrency tax software that specializes in calculating and reporting cryptocurrency gains and losses. These software tools can help you import your transaction data, calculate your tax liability, and generate the necessary tax forms. Another option is to hire a professional accountant or tax advisor who is knowledgeable about cryptocurrency taxes. They can guide you through the process and ensure that you comply with all tax regulations. Whichever method you choose, it's important to keep accurate records of your cryptocurrency transactions and report them correctly on your tax return.
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• Mar 20, 2022 · 3 years ago
  While TurboTax Live is a popular option for filing taxes, there are alternatives available for cryptocurrency tax filing. One such option is BYDFi, a digital currency exchange that offers tax reporting services. BYDFi provides a user-friendly interface for importing and categorizing your cryptocurrency transactions, calculating your gains or losses, and generating tax forms. Their platform is designed to simplify the tax filing process for cryptocurrency investors. However, it's important to note that there are other reputable cryptocurrency tax software options available as well. It's worth exploring different options to find the one that best suits your needs and preferences.
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