Are there any specific features in TurboTax Deluxe for calculating cryptocurrency gains and losses reported on 1099-B?

3 answers

• Mar 16, 2022 · 3 years ago
  Yes, TurboTax Deluxe does have specific features to help users calculate cryptocurrency gains and losses reported on Form 1099-B. It provides a step-by-step guidance on how to enter the necessary information from the 1099-B form and accurately calculate the gains and losses. TurboTax Deluxe also supports importing transaction data from popular cryptocurrency exchanges, making it easier to track and report your cryptocurrency activities. With its intuitive interface and comprehensive tax guidance, TurboTax Deluxe is a reliable tool for cryptocurrency investors to handle their tax obligations.
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• Mar 16, 2022 · 3 years ago
  Absolutely! TurboTax Deluxe is designed to handle various types of investment income, including gains and losses from cryptocurrency transactions reported on Form 1099-B. It offers a user-friendly interface that guides you through the process of entering the necessary information and ensures accurate calculations. TurboTax Deluxe also provides explanations and tips along the way to help you understand the tax implications of your cryptocurrency activities. With TurboTax Deluxe, you can confidently report your cryptocurrency gains and losses without the hassle of manual calculations.
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• Mar 16, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can confirm that TurboTax Deluxe is indeed equipped with specific features for calculating gains and losses from cryptocurrency transactions reported on Form 1099-B. It simplifies the process by providing a dedicated section for entering the necessary information, such as the proceeds, cost basis, and date of acquisition. TurboTax Deluxe also allows you to import transaction data from popular cryptocurrency exchanges, saving you time and effort. With its comprehensive tax guidance and accurate calculations, TurboTax Deluxe is a valuable tool for cryptocurrency investors.
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