Which turbotax tier is best for reporting cryptocurrency gains and losses?

3 answers

• Nov 26, 2021 · 3 years ago
  When it comes to reporting cryptocurrency gains and losses, it is important to choose the right TurboTax tier. The TurboTax Premier tier is generally recommended for individuals who have more complex tax situations, including cryptocurrency investments. This tier provides additional features and guidance specifically tailored to investment income, making it easier to accurately report your gains and losses from cryptocurrencies. It also includes access to tax experts who can provide personalized assistance if needed. Overall, the TurboTax Premier tier is the best choice for reporting cryptocurrency gains and losses.
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• Nov 26, 2021 · 3 years ago
  If you're only dealing with a small number of cryptocurrency transactions and have a relatively simple tax situation, you might be able to use the TurboTax Deluxe tier. However, keep in mind that this tier may not have all the specific features and guidance for reporting cryptocurrency gains and losses. It's always a good idea to review the features and limitations of each TurboTax tier before making a decision. Additionally, consulting with a tax professional or accountant who is knowledgeable about cryptocurrency taxation can provide valuable insights and ensure accurate reporting.
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• Nov 26, 2021 · 3 years ago
  At BYDFi, we recommend using the TurboTax Premier tier for reporting cryptocurrency gains and losses. This tier offers comprehensive features and guidance specifically designed for investment income, including cryptocurrencies. It provides step-by-step instructions and ensures accurate reporting of your gains and losses. Additionally, TurboTax Premier offers access to tax experts who can assist you with any questions or concerns you may have. Remember to always review the features and limitations of each TurboTax tier to determine the best fit for your specific tax situation.
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