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What is crypto tax & how does it work?

Learn the ins and outs of Crypto.com Tax to file returns and get an overview of the tax rules for the US, Canada, the UK, and Australia. Crypto tax refers to the taxation of cryptocurrency transactions, such as buying, selling, receiving, or exchanging cryptocurrencies like Bitcoin, Ethereum, or other digital assets.

Does TurboTax allow users to report cryptocurrency taxes?

Yes, TurboTax allows users to report cryptocurrency taxes . While TurboTax is one of the best tax platforms on the market, it’s important to remember that it wasn’t built with cryptocurrency in mind. As a result, it doesn’t always have the integrations and functionality needed to make reporting your crypto taxes stress-free.

Is crypto a substitute for tax advice?

Disclaimer: You acknowledge and agree that information provided by Crypto.com to you in your use of the Crypto.com Tax Services is for your reference only and should not be considered a substitute for legal advice, tax advice, audit advice, accounting advice, or brokerage advice under the guidance of a licensed professional.

Do you owe tax on cryptocurrency?

Pay any tax owed: If a user owes tax on their cryptocurrency, they’ll need to pay the amount owed to the tax authority in their jurisdiction. The Crypto.com Tax tool helps to calculate and report cryptocurrency taxes. Crypto.com Tax is free for anyone in supported jurisdictions who needs to prepare their crypto taxes.

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