What is the process for entering cryptocurrency transactions in TurboTax Deluxe?

3 answers

• Nov 29, 2021 · 3 years ago
  Sure! Here's a step-by-step guide to entering cryptocurrency transactions in TurboTax Deluxe: 1. Open TurboTax Deluxe and navigate to the section for reporting investment income. 2. Select the option to add a new investment account and choose 'Cryptocurrency' as the account type. 3. Enter the relevant details for each cryptocurrency transaction, such as the date, type (buy/sell), amount, and cost basis. 4. TurboTax Deluxe will automatically calculate the capital gains or losses based on the information provided. 5. Continue adding all your cryptocurrency transactions until you have entered all the necessary data. 6. Review the summary of your cryptocurrency transactions and make any necessary adjustments. 7. Once you are satisfied with the accuracy of the information, proceed to file your taxes. Remember to consult with a tax professional or refer to the official TurboTax documentation for specific guidance based on your individual circumstances.
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• Nov 29, 2021 · 3 years ago
  Entering cryptocurrency transactions in TurboTax Deluxe is a breeze! Just follow these simple steps: 1. Go to the investment income section in TurboTax Deluxe. 2. Click on 'Add a new investment account' and select 'Cryptocurrency' as the account type. 3. Fill in the details for each transaction, including the date, type, amount, and cost basis. 4. TurboTax Deluxe will automatically calculate the gains or losses for you. 5. Repeat the process for all your cryptocurrency transactions. 6. Review the summary and make any necessary adjustments. 7. Once everything looks good, you're ready to file your taxes! Remember, it's always a good idea to consult with a tax professional if you have any specific questions or concerns.
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• Nov 29, 2021 · 3 years ago
  When it comes to entering cryptocurrency transactions in TurboTax Deluxe, it's important to follow the correct procedure. Here's how you can do it: 1. Open TurboTax Deluxe and go to the investment income section. 2. Choose 'Cryptocurrency' as the account type when adding a new investment account. 3. Fill in the details for each transaction, including the date, type, amount, and cost basis. 4. TurboTax Deluxe will handle the calculations for you and determine the capital gains or losses. 5. Repeat the process for all your cryptocurrency transactions. 6. Take a moment to review the summary and make any necessary adjustments. 7. Once you're satisfied with the accuracy of the information, proceed to file your taxes. Remember, it's always a good idea to consult with a tax professional or refer to the official TurboTax documentation for personalized advice based on your specific situation.
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