What is the best way to automatically save my cryptocurrency transactions using TurboTax Desktop?

3 answers

• Dec 18, 2021 · 3 years ago
  One of the best ways to automatically save your cryptocurrency transactions using TurboTax Desktop is to use a third-party software or service that integrates with TurboTax. These tools can automatically import your transaction data from various cryptocurrency exchanges and wallets, and then generate a tax report that you can easily import into TurboTax. Some popular options include CoinTracker, CryptoTrader.Tax, and TokenTax. These tools can save you a lot of time and effort by automating the process of recording your transactions and calculating your tax liabilities.
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• Dec 18, 2021 · 3 years ago
  If you prefer a more manual approach, you can use TurboTax's import feature to manually enter your cryptocurrency transactions. Most cryptocurrency exchanges allow you to export your transaction history in a CSV or Excel format. You can then import this file into TurboTax using the import feature. However, keep in mind that this method can be time-consuming and prone to errors, especially if you have a large number of transactions.
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• Dec 18, 2021 · 3 years ago
  At BYDFi, we understand the importance of accurately recording your cryptocurrency transactions for tax purposes. Our platform provides a seamless integration with TurboTax Desktop, allowing you to automatically import your transaction data and generate a tax report with just a few clicks. With BYDFi, you can save time and ensure that all your transactions are accurately recorded, giving you peace of mind when it comes to tax season.
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