How can I use TurboTax software to calculate my cryptocurrency gains and losses?

1 answers

• Dec 15, 2021 · 3 years ago
  Certainly! Here's a step-by-step guide on using TurboTax software to calculate your cryptocurrency gains and losses: 1. Open TurboTax and start a new tax return. 2. Look for the section that deals with investment income and select 'Cryptocurrency' as the investment type. 3. Enter the details of your cryptocurrency transactions, including the date of acquisition, purchase price, sale price, and any fees incurred. 4. TurboTax will automatically calculate your gains or losses based on the information provided. 5. Review the calculations and make any necessary adjustments. 6. Once you are satisfied, proceed with filing your tax return. Remember to keep accurate records of your cryptocurrency transactions to ensure accurate reporting. I hope this helps! If you have any further questions, feel free to ask.
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