What are the best tax software options for reporting cryptocurrency gains: Deluxe or Premier TurboTax?

3 answers

• Dec 26, 2021 · 3 years ago
  As a tax professional, I would recommend using Premier TurboTax for reporting cryptocurrency gains. It offers more advanced features and guidance specifically tailored to cryptocurrency transactions. With Premier TurboTax, you can easily import your cryptocurrency transactions from popular exchanges and wallets, calculate your gains or losses, and generate accurate tax reports. It also provides detailed explanations and resources to help you understand the tax implications of your cryptocurrency activities. Overall, Premier TurboTax is a reliable choice for accurately reporting your cryptocurrency gains and ensuring compliance with tax regulations.
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• Dec 26, 2021 · 3 years ago
  If you're new to cryptocurrency and have relatively simple transactions, Deluxe TurboTax should be sufficient for reporting your gains. It provides basic guidance and support for cryptocurrency reporting, allowing you to manually enter your transactions and calculate your gains or losses. However, if you have a large number of transactions or engage in more complex cryptocurrency activities, Premier TurboTax would be a better option as it offers more advanced features and support. It's important to carefully review your transactions and consult with a tax professional if you're unsure about how to report your cryptocurrency gains.
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• Dec 26, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using Premier TurboTax for reporting cryptocurrency gains. With Premier TurboTax, you can easily import your transaction history from BYDFi and other major exchanges, making it convenient to calculate your gains or losses. It also provides comprehensive guidance and resources to help you accurately report your cryptocurrency activities. Remember to review your transactions carefully and consult with a tax professional if needed to ensure compliance with tax regulations.
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