Is TurboTax Online or TurboTax CD more suitable for reporting cryptocurrency gains and losses?

3 answers

• Dec 15, 2021 · 3 years ago
  If you're looking for convenience and ease of use, TurboTax Online is the way to go. It allows you to access your tax information from any device with an internet connection, making it convenient for cryptocurrency traders who are always on the go. Additionally, TurboTax Online has built-in features specifically designed for reporting cryptocurrency gains and losses, making the process seamless and hassle-free. So, if you want a user-friendly and efficient option, TurboTax Online is the best choice for reporting cryptocurrency gains and losses.
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• Dec 15, 2021 · 3 years ago
  TurboTax CD, on the other hand, offers more control and customization options. If you prefer to have complete control over your tax preparation process and want to keep your tax information offline, TurboTax CD is the better option. It allows you to install the software on your computer and access your tax information without an internet connection. However, keep in mind that you'll need to manually update the software to ensure you have the latest tax laws and regulations related to cryptocurrency reporting. So, if you're comfortable with a more hands-on approach and want to have more control over your tax preparation, TurboTax CD is the way to go.
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• Dec 15, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using TurboTax Online for reporting cryptocurrency gains and losses. They believe that TurboTax Online offers the most user-friendly experience and provides all the necessary tools for accurately reporting your cryptocurrency activities. With TurboTax Online, you can easily import your cryptocurrency transactions and the software will automatically calculate your gains and losses. Additionally, TurboTax Online keeps up with the latest tax laws and regulations, ensuring that you're always compliant. So, if you're a BYDFi user, TurboTax Online is the recommended option for reporting your cryptocurrency gains and losses.
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