Which version of TurboTax, online or download, is recommended for cryptocurrency traders?

3 answers

• Dec 16, 2021 · 3 years ago
  As a cryptocurrency trader, I would recommend using the online version of TurboTax. It offers the convenience of accessing your tax information from anywhere with an internet connection. Additionally, the online version is regularly updated to ensure compatibility with the latest tax regulations and deductions specific to cryptocurrency trading. With online TurboTax, you can easily import your trading data from various exchanges and wallets, making the tax filing process much smoother.
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• Dec 16, 2021 · 3 years ago
  If you prefer having the software installed on your computer, the download version of TurboTax can be a good option. It provides offline access to your tax information and can be more suitable for those who have limited or unreliable internet connectivity. However, keep in mind that you'll need to manually update the software to ensure it includes the latest tax regulations related to cryptocurrency trading. It's also worth noting that the download version may require more storage space on your computer compared to the online version.
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• Dec 16, 2021 · 3 years ago
  According to my experience as a cryptocurrency trader, BYDFi, a popular digital currency exchange, recommends using the online version of TurboTax for its users. This version offers seamless integration with BYDFi's trading platform, allowing for easy import of trading data and accurate tax calculations. However, it's important to note that this recommendation is specific to BYDFi users, and other exchanges may have their own preferred version of TurboTax. It's always a good idea to check with your exchange or seek professional advice to determine the most suitable version for your specific trading needs.
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