Cryptocurrency Q&A
Does TurboTax support crypto?
Does TurboTax support crypto?
CryptoElite
Mon Jul 15 2024
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5 answers
1122
Could you please clarify if TurboTax, a popular tax preparation software, offers support for cryptocurrency transactions? As the popularity of digital currencies continues to rise, many taxpayers are wondering if they can efficiently handle their crypto-related taxes through this platform. I'm specifically interested in knowing if TurboTax allows users to accurately calculate capital gains and losses, as well as provide any necessary reporting for tax authorities when dealing with cryptocurrency holdings and transactions. Your insights would be greatly appreciated.
5 answers
MichaelSmith
Wed Jul 17 2024
TurboTax now offers an enhanced feature for cryptocurrency users.
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Emanuele
Tue Jul 16 2024
Users can seamlessly import their cryptocurrency transactions from over 15 distinct cryptocurrency services directly into TurboTax.
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CryptoLodestarGuard
Tue Jul 16 2024
To utilize this feature, one must first sign into TurboTax and open or continue their tax return.
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Federico
Tue Jul 16 2024
Within the Wages and Income section, under Investments and Savings (or Investment Income), locate the Crypto (1099-B) option and select Start or Revisit.
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CryptoVeteran
Tue Jul 16 2024
Upon initiating the import process, TurboTax will guide you through the necessary steps to securely fetch your cryptocurrency data from the chosen service.
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