Is there a step-by-step guide on using Turbotax 2018 premier download for reporting digital currency transactions?

1 answers

• Mar 16, 2022 · 3 years ago
  Sure thing! Here's a step-by-step guide on using Turbotax 2018 premier download for reporting digital currency transactions: 1. Download and install Turbotax 2018 premier on your computer. 2. Launch the software and create a new tax return. 3. Enter your personal information and select the appropriate tax year. 4. Navigate to the section for reporting investment income. 5. Choose the option for reporting cryptocurrency transactions. 6. Import your transaction history from your digital currency exchange. 7. Review the imported transactions and make any necessary adjustments. 8. Classify each transaction as a buy, sell, or transfer. 9. Enter the details for each transaction, including the date, amount, and cost basis. 10. Calculate your gains or losses for each transaction based on the market value at the time of the transaction. 11. Review and verify all the entered information. 12. Generate the necessary tax forms and reports. 13. File your tax return with the relevant tax authorities. I hope this guide helps you out! If you have any more questions, feel free to ask.
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