What is the best way to calculate taxes on cryptocurrency investments in Canada using Turbo Tax?

1 answers

• Dec 16, 2021 · 3 years ago
  Hey there! If you're a Canadian resident and looking to calculate taxes on your cryptocurrency investments using Turbo Tax, you're in luck! Turbo Tax makes it super easy to handle your crypto taxes. Here's what you need to do: 1. Collect all the relevant information about your cryptocurrency investments, including the purchase price, sale price, and dates of each transaction. 2. Open Turbo Tax and select the option for cryptocurrency investments. 3. Enter the details of each transaction, such as the type of cryptocurrency, purchase price, sale price, and dates. 4. Turbo Tax will automatically crunch the numbers and calculate your capital gains or losses. 5. Take a look at the calculated amounts and make sure everything looks good. 6. When you're ready, file your taxes using Turbo Tax and follow the prompts. That's it! Turbo Tax will handle the nitty-gritty of your crypto taxes, so you can focus on other things.
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