What is the difference between using Turbotax Premier and self-employed for cryptocurrency tax filing?

15 answers

• Dec 28, 2021 · 3 years ago
  Turbotax Premier and self-employed are two different versions of the popular tax preparation software, Turbotax, that cater to different types of taxpayers. Turbotax Premier is designed for individuals who have investments, including stocks, bonds, and rental properties. It includes specific features and forms that are relevant to reporting investment income and expenses. On the other hand, Turbotax self-employed is tailored for individuals who are self-employed or have a side business. It offers additional features for reporting business income and expenses, such as Schedule C. When it comes to cryptocurrency tax filing, both versions can handle it, but Turbotax self-employed may be more suitable if you actively trade cryptocurrencies or earn income from mining. It provides more comprehensive support for reporting business-related cryptocurrency activities. However, if your cryptocurrency activities are primarily investment-related, Turbotax Premier should suffice. It's always a good idea to consult with a tax professional or review the features of each version to determine the best fit for your specific situation.
  1133567
• Dec 28, 2021 · 3 years ago
  Alright, let's break it down. Turbotax Premier is like the MVP for investors. If you're into stocks, bonds, rental properties, and of course, cryptocurrencies, this version has got you covered. It's got all the bells and whistles to help you report your investment income and expenses accurately. On the other hand, Turbotax self-employed is more like the go-to option for freelancers and small business owners. If you're hustling with a side gig or running your own show, this version is your best bet. It's got all the extra features to handle your business income and expenses, including those related to cryptocurrencies. So, if you're actively trading cryptos or making money from mining, self-employed is the way to go. But if you're more of a hodler and your crypto activities are more on the investment side, Premier will do the job just fine.
  851284
• Dec 28, 2021 · 3 years ago
  As an expert from BYDFi, I can tell you that both Turbotax Premier and self-employed can handle cryptocurrency tax filing. However, the key difference lies in the additional features and forms that each version offers. Turbotax Premier is more suitable for individuals with investment income, including cryptocurrencies, while self-employed is designed for those with business income, including cryptocurrency-related activities. If you're actively trading cryptocurrencies or earning income from mining, self-employed provides more comprehensive support for reporting your business-related cryptocurrency activities. On the other hand, if your cryptocurrency activities are primarily investment-related, Turbotax Premier should be sufficient. It's always a good idea to carefully review the features of each version and consider your specific tax reporting needs before making a decision.
  889223
• Dec 28, 2021 · 3 years ago
  Turbotax Premier and self-employed are two different beasts when it comes to cryptocurrency tax filing. Turbotax Premier is like the sophisticated accountant who knows all the ins and outs of investment income reporting, including cryptocurrencies. It's perfect for individuals who have a diverse investment portfolio and want to ensure accurate reporting. On the other hand, Turbotax self-employed is more like the savvy entrepreneur who knows how to handle business income, including cryptocurrency-related activities. If you're actively trading cryptos, mining, or running a crypto-related business, self-employed is the way to go. It's got all the tools and forms to help you navigate the complexities of reporting your business-related cryptocurrency activities. So, choose wisely based on your specific crypto involvement and tax reporting needs.
  852171
• Dec 28, 2021 · 3 years ago
  When it comes to cryptocurrency tax filing, the difference between Turbotax Premier and self-employed lies in their focus. Turbotax Premier is more geared towards individuals with investment income, including cryptocurrencies, while self-employed is tailored for those with business income, including cryptocurrency-related activities. If you're primarily investing in cryptocurrencies and your activities are more on the passive side, Turbotax Premier should be sufficient. It covers the necessary forms and features to accurately report your investment income. However, if you're actively trading cryptocurrencies, earning income from mining, or running a crypto-related business, self-employed is the better choice. It provides additional tools and forms specifically designed for reporting business-related cryptocurrency activities. Remember to review the features of each version and consider your specific tax reporting needs before making a decision.
  958160
• Dec 28, 2021 · 3 years ago
  The difference between using Turbotax Premier and self-employed for cryptocurrency tax filing boils down to your involvement in the crypto world. Turbotax Premier is for individuals who have investments, including cryptocurrencies, but it's more suitable if your crypto activities are primarily investment-related. It covers the necessary forms and features to accurately report your investment income and expenses. On the other hand, Turbotax self-employed is the way to go if you're actively trading cryptos, earning income from mining, or running a crypto-related business. It offers additional tools and forms to handle your business income and expenses, including those related to cryptocurrencies. So, if you're a crypto enthusiast who's diving deep into the world of trading and entrepreneurship, self-employed is your best bet. But if you're more of a passive investor, Premier will do the job.
  902129
• Dec 28, 2021 · 3 years ago
  Choosing between Turbotax Premier and self-employed for cryptocurrency tax filing depends on your crypto activities and tax reporting needs. Turbotax Premier is suitable if you have investment income from cryptocurrencies and other sources. It covers the necessary forms and features to accurately report your investment-related income and expenses. On the other hand, Turbotax self-employed is designed for individuals with business income, including cryptocurrency-related activities. If you're actively trading cryptos, earning income from mining, or running a crypto-related business, self-employed provides additional tools and forms to handle your business-related income and expenses. It's always a good idea to carefully evaluate your crypto involvement and consider the features of each version before making a decision.
  829104
• Dec 28, 2021 · 3 years ago
  Turbotax Premier or self-employed? That's the question when it comes to cryptocurrency tax filing. If you're a crypto investor who dabbles in stocks, bonds, and rental properties, Turbotax Premier is your go-to option. It's got all the fancy features to help you accurately report your investment income, including cryptocurrencies. But if you're more of a crypto entrepreneur, actively trading cryptos or making money from mining, self-employed is the way to go. It's tailored for individuals with business income, including cryptocurrency-related activities. So, choose wisely based on your crypto involvement and tax reporting needs.
  63671
• Dec 28, 2021 · 3 years ago
  The difference between using Turbotax Premier and self-employed for cryptocurrency tax filing lies in their focus. Turbotax Premier is more suitable if your cryptocurrency activities are primarily investment-related. It covers the necessary forms and features to accurately report your investment income and expenses, including cryptocurrencies. On the other hand, Turbotax self-employed is designed for individuals with business income, including cryptocurrency-related activities. If you're actively trading cryptocurrencies, earning income from mining, or running a crypto-related business, self-employed provides additional tools and forms to handle your business-related income and expenses. Consider your specific crypto involvement and tax reporting needs to choose the right option for you.
  79880
• Dec 28, 2021 · 3 years ago
  Turbotax Premier and self-employed are two different versions of Turbotax that cater to different taxpayers. Turbotax Premier is more suitable if you have investment income, including cryptocurrencies. It covers the necessary forms and features to accurately report your investment-related income and expenses. On the other hand, Turbotax self-employed is designed for individuals with business income, including cryptocurrency-related activities. If you're actively trading cryptos, earning income from mining, or running a crypto-related business, self-employed provides additional tools and forms to handle your business-related income and expenses. So, choose the version that aligns with your crypto activities and tax reporting needs.
  74068
• Dec 28, 2021 · 3 years ago
  The difference between using Turbotax Premier and self-employed for cryptocurrency tax filing is all about your crypto journey. Turbotax Premier is like the reliable companion for investors who want to accurately report their investment income, including cryptocurrencies. It covers all the necessary forms and features to ensure compliance. On the other hand, Turbotax self-employed is the trusted ally for entrepreneurs who are actively involved in the crypto space. If you're trading cryptos, mining, or running a crypto-related business, self-employed has got your back. It offers additional tools and forms to handle your business-related income and expenses, including those related to cryptocurrencies. So, choose the version that suits your crypto adventure.
  76664
• Dec 28, 2021 · 3 years ago
  Turbotax Premier and self-employed are two different options for cryptocurrency tax filing, each with its own focus. Turbotax Premier is more suitable if your cryptocurrency activities are primarily investment-related. It covers the necessary forms and features to accurately report your investment income and expenses, including cryptocurrencies. On the other hand, Turbotax self-employed is designed for individuals with business income, including cryptocurrency-related activities. If you're actively trading cryptocurrencies, earning income from mining, or running a crypto-related business, self-employed provides additional tools and forms to handle your business-related income and expenses. Consider your specific crypto involvement and tax reporting needs to make the right choice.
  79061
• Dec 28, 2021 · 3 years ago
  When it comes to cryptocurrency tax filing, Turbotax Premier and self-employed offer different options to cater to your specific needs. Turbotax Premier is more suitable if you have investment income from cryptocurrencies and other sources. It covers the necessary forms and features to accurately report your investment-related income and expenses. On the other hand, Turbotax self-employed is designed for individuals with business income, including cryptocurrency-related activities. If you're actively trading cryptos, earning income from mining, or running a crypto-related business, self-employed provides additional tools and forms to handle your business-related income and expenses. So, assess your crypto involvement and tax reporting requirements to choose the right option for you.
  79357
• Dec 28, 2021 · 3 years ago
  Turbotax Premier and self-employed are two different versions of Turbotax that cater to different types of taxpayers. Turbotax Premier is more suitable if you have investment income, including cryptocurrencies. It covers the necessary forms and features to accurately report your investment-related income and expenses. On the other hand, Turbotax self-employed is designed for individuals with business income, including cryptocurrency-related activities. If you're actively trading cryptocurrencies, earning income from mining, or running a crypto-related business, self-employed provides additional tools and forms to handle your business-related income and expenses. Consider your specific crypto involvement and tax reporting needs to choose the right version for you.
  77352
• Dec 28, 2021 · 3 years ago
  The difference between using Turbotax Premier and self-employed for cryptocurrency tax filing lies in their focus. Turbotax Premier is more suitable if your cryptocurrency activities are primarily investment-related. It covers the necessary forms and features to accurately report your investment income and expenses, including cryptocurrencies. On the other hand, Turbotax self-employed is designed for individuals with business income, including cryptocurrency-related activities. If you're actively trading cryptocurrencies, earning income from mining, or running a crypto-related business, self-employed provides additional tools and forms to handle your business-related income and expenses. Consider your specific crypto involvement and tax reporting needs to choose the right option for you.
  79850