Are there any fees associated with using cash app or turbotax for cryptocurrency transactions?
Anthony KevinDec 17, 2021 · 3 years ago3 answers
Can you tell me if there are any fees involved in using cash app or turbotax for cryptocurrency transactions? I'm considering using these platforms for my crypto transactions, but I want to make sure I understand all the costs involved.
3 answers
- Dec 17, 2021 · 3 years agoYes, there are fees associated with using cash app or turbotax for cryptocurrency transactions. Cash app charges a fee of 1.5% for buying or selling Bitcoin, while turbotax charges a fee of 0.5% for cryptocurrency transactions. These fees may vary depending on the specific transaction and the amount involved. It's important to check the latest fee structure on their respective websites before making any transactions.
- Dec 17, 2021 · 3 years agoAbsolutely! Both cash app and turbotax charge fees for cryptocurrency transactions. Cash app charges a fee of 1.5% for buying or selling Bitcoin, and turbotax charges a fee of 0.5% for cryptocurrency transactions. These fees are deducted from the transaction amount and may vary based on the specific transaction and the amount involved. It's always a good idea to review the fee structure on their websites to get the most accurate and up-to-date information.
- Dec 17, 2021 · 3 years agoYes, there are fees associated with using cash app or turbotax for cryptocurrency transactions. Cash app charges a fee of 1.5% for buying or selling Bitcoin, while turbotax charges a fee of 0.5% for cryptocurrency transactions. These fees are relatively low compared to some other platforms, but it's still important to consider them when making transactions. Keep in mind that fees may vary depending on the specific transaction and the amount involved, so it's a good idea to check the latest fee structure on their websites.
Related Tags
Hot Questions
- 84
How can I protect my digital assets from hackers?
- 81
What are the advantages of using cryptocurrency for online transactions?
- 76
How can I buy Bitcoin with a credit card?
- 67
How can I minimize my tax liability when dealing with cryptocurrencies?
- 64
What are the tax implications of using cryptocurrency?
- 44
How does cryptocurrency affect my tax return?
- 30
What are the best practices for reporting cryptocurrency on my taxes?
- 8
Are there any special tax rules for crypto investors?