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How to update TurboTax for cryptocurrency transactions?

avatarPratiyush Kumar SinghNov 26, 2021 · 3 years ago1 answers

I need to update TurboTax to account for my cryptocurrency transactions. How can I do that?

How to update TurboTax for cryptocurrency transactions?
Cryptocurrency
TurboTax
Tax Filing

1 answers

  • avatarNov 26, 2021 · 3 years ago
    Updating TurboTax for cryptocurrency transactions is a crucial step in accurately reporting your taxes. Here's how you can do it: 1. Open TurboTax and navigate to the 'Federal Taxes' section. 2. Select 'Wages & Income'. 3. Scroll down and look for the 'Cryptocurrency' option. 4. Choose the method to import your transactions. 5. Connect your exchange account or upload a CSV file. 6. TurboTax will automatically calculate your gains or losses. 7. Review the information and make any necessary adjustments. 8. Complete the rest of your tax return. Following these steps will ensure that your cryptocurrency transactions are properly updated in TurboTax and that you stay compliant with tax regulations.

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