What are the alternatives to TurboTax Deluxe for filing cryptocurrency taxes?

7 answers

• Dec 17, 2021 · 3 years ago
  Sure! One alternative to TurboTax Deluxe for filing cryptocurrency taxes is CoinTracker. CoinTracker is a popular software that helps you track your cryptocurrency portfolio and automatically generates tax reports. It supports various exchanges and wallets, making it easy to import your transaction data. Additionally, CoinTracker provides features like tax-loss harvesting and audit defense to help you optimize your tax situation. Give it a try!
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• Dec 17, 2021 · 3 years ago
  If you're looking for a more user-friendly option, you might want to consider using CryptoTrader.Tax. This platform simplifies the process of calculating and reporting your cryptocurrency taxes. It supports a wide range of exchanges and wallets, and you can easily import your transaction data using CSV files or API integrations. CryptoTrader.Tax also provides detailed tax reports and offers guidance on how to maximize your deductions. Give it a shot!
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• Dec 17, 2021 · 3 years ago
  BYDFi is another option you can explore. It offers a comprehensive cryptocurrency tax filing service that is specifically designed for traders and investors. With BYDFi, you can easily import your transaction data from various exchanges and wallets, and the platform will automatically calculate your tax liability. It also provides personalized tax planning advice and supports multiple tax reporting methods. Give BYDFi a try if you're looking for a professional solution.
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• Dec 17, 2021 · 3 years ago
  If you prefer a more DIY approach, you can use popular tax software like TurboTax Premier or H&R Block Premium. While these software are not specifically tailored for cryptocurrency taxes, they can still handle your crypto-related transactions. You'll need to manually enter your transaction data and ensure that you report your crypto income accurately. Remember to consult with a tax professional if you have any specific concerns.
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• Dec 17, 2021 · 3 years ago
  Another option worth considering is TaxBit. TaxBit is a cryptocurrency tax software that offers a user-friendly interface and supports a wide range of exchanges and wallets. It provides automated tax calculations, real-time tax optimization, and detailed tax reports. TaxBit also offers tax planning tools and resources to help you navigate the complexities of cryptocurrency taxation. Give it a try and see if it meets your needs!
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• Dec 17, 2021 · 3 years ago
  If you're looking for a free option, you can check out CoinTracking. CoinTracking is a popular cryptocurrency portfolio tracker that also offers tax reporting features. While the free version has limitations, such as a limited number of transactions and exchanges, it can still be a useful tool for basic tax reporting. If you have a small number of transactions and don't want to invest in paid software, CoinTracking could be a good choice.
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• Dec 17, 2021 · 3 years ago
  For those who prefer a more hands-on approach, you can consider using spreadsheets or templates specifically designed for cryptocurrency tax calculations. There are various templates available online that can help you organize your transaction data and calculate your tax liability. While this method requires more manual work, it can be a cost-effective solution for individuals with simple crypto tax situations. Just make sure to double-check your calculations and consult with a tax professional if needed.
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