How can I report cryptocurrency earnings with TurboTax Premier?

3 answers

• Dec 25, 2021 · 3 years ago
  When reporting cryptocurrency earnings with TurboTax Premier, you'll need to gather all your transaction history and calculate your gains and losses. TurboTax Premier has a section specifically for reporting investment income, which includes cryptocurrency earnings. You'll need to enter the details of each transaction, including the date, type of transaction (buy, sell, trade), and the amount in USD. TurboTax will then calculate your gains or losses based on the cost basis and the fair market value at the time of the transaction. Make sure to review your entries carefully and consult a tax professional if you have any doubts or questions.
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• Dec 25, 2021 · 3 years ago
  Reporting cryptocurrency earnings with TurboTax Premier is a straightforward process. You'll need to navigate to the investment income section and select the option for reporting cryptocurrency earnings. TurboTax will guide you through the process step by step, asking for the necessary information such as the type of cryptocurrency, the date of the transaction, and the amount in USD. Make sure to have all your transaction history and supporting documents ready before starting the process. If you have any specific questions or encounter any issues, TurboTax's customer support is available to assist you.
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• Dec 25, 2021 · 3 years ago
  As an expert at BYDFi, I can assure you that reporting cryptocurrency earnings with TurboTax Premier is a breeze. The software is designed to handle complex investment income, including cryptocurrencies. Simply follow the prompts in the investment income section and provide the necessary details for each transaction. TurboTax will take care of the calculations and ensure accurate reporting. If you have any questions or need assistance, feel free to reach out to TurboTax's customer support. They are always ready to help.
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