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What are the best tax software options for cryptocurrency investors: TaxAct or TurboTax?

avatarLalith KrishnaMar 22, 2022 · 3 years ago1 answers

As a cryptocurrency investor, I'm looking for the best tax software options to help me with my tax filing. I've heard about TaxAct and TurboTax, but I'm not sure which one is better for handling cryptocurrency taxes. Can anyone provide insights on the pros and cons of TaxAct and TurboTax when it comes to cryptocurrency tax reporting? Which one offers better features, accuracy, and ease of use specifically for cryptocurrency investors?

What are the best tax software options for cryptocurrency investors: TaxAct or TurboTax?
Cryptocurrency
Tax Software
TaxAct

1 answers

  • avatarMar 22, 2022 · 3 years ago
    As a third-party observer, I've seen many cryptocurrency investors using TaxAct and TurboTax for their tax filing. Both software options have their strengths and weaknesses. TaxAct is often praised for its affordability and ease of use, especially for cryptocurrency investors. It provides specific features for reporting cryptocurrency transactions and calculates capital gains and losses accurately. TurboTax, on the other hand, offers a more comprehensive tax software with excellent customer support. While it may require a bit more manual input for cryptocurrency taxes, it still handles them well. Ultimately, the choice between TaxAct and TurboTax depends on your budget, level of comfort with tax software, and specific needs as a cryptocurrency investor.

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