Which version of TurboTax, Deluxe or Premier, is recommended for individuals involved in cryptocurrency trading?

3 answers

• Dec 17, 2021 · 3 years ago
  As a cryptocurrency trader, it is recommended to use the Premier version of TurboTax. This version offers more advanced features and support for complex tax situations, which is often the case for individuals involved in cryptocurrency trading. With Premier, you'll have access to additional tax forms and guidance specifically tailored to investments and capital gains, making it easier to accurately report your cryptocurrency transactions.
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• Dec 17, 2021 · 3 years ago
  If you're just starting out with cryptocurrency trading and have relatively simple tax situations, the Deluxe version of TurboTax should suffice. It provides the basic features needed for reporting income from cryptocurrency trading, including support for common tax forms like Schedule D. However, keep in mind that as your trading activities become more complex, you may need to upgrade to the Premier version for more comprehensive tax support.
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• Dec 17, 2021 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, they recommend using the Premier version of TurboTax for individuals involved in cryptocurrency trading. This version offers specialized features and guidance specifically designed for cryptocurrency transactions, ensuring accurate reporting and compliance with tax regulations. With Premier, you'll have peace of mind knowing that your cryptocurrency taxes are handled properly.
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