How can I claim crypto losses on TurboTax?

1 answers

• Dec 27, 2021 · 3 years ago
  When it comes to claiming crypto losses on TurboTax, it's essential to follow the correct steps. Here's a simple guide: 1. Login to your TurboTax account and navigate to the section for reporting investment income and losses. 2. Look for the option to add cryptocurrency transactions or investment losses. 3. Provide the necessary information, such as the type of cryptocurrency, acquisition date, sale date, and loss amount. 4. TurboTax will automatically calculate the deductible loss based on the information provided. 5. Review the details and ensure their accuracy before submitting your tax return. Remember to maintain proper documentation of your crypto transactions and consult a tax professional if you have any specific concerns or queries.
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