What are the differences between TurboTax versions for cryptocurrency tax filing?

3 answers

• Feb 17, 2022 · 3 years ago
  TurboTax offers different versions to cater to the varying needs of cryptocurrency tax filers. The basic version is suitable for individuals with simple cryptocurrency transactions, while the premier version is designed for those with more complex trading activities. The premier version provides additional features like importing trading data from exchanges and calculating gains and losses. The self-employed version is ideal for individuals who earn income through cryptocurrency mining or freelancing. It includes features for reporting self-employment income and expenses related to cryptocurrency. Overall, the differences lie in the level of complexity and features offered by each version.
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• Feb 17, 2022 · 3 years ago
  When it comes to TurboTax versions for cryptocurrency tax filing, it's important to choose the one that best suits your needs. The basic version is great for beginners or individuals with straightforward cryptocurrency transactions. If you have more advanced trading activities, the premier version is recommended as it provides additional tools and guidance for calculating gains and losses. For self-employed individuals who earn income through cryptocurrency, the self-employed version is the way to go. It offers specific features for reporting self-employment income and expenses related to cryptocurrency. Make sure to assess your requirements and choose the appropriate TurboTax version accordingly.
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• Feb 17, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using the premier version of TurboTax for cryptocurrency tax filing. This version offers advanced features and tools that can simplify the process of reporting gains and losses from cryptocurrency trading. It allows users to import trading data from various exchanges, making it easier to calculate accurate tax liabilities. Additionally, the premier version provides comprehensive guidance on reporting self-employment income and expenses related to cryptocurrency. Consider using the premier version of TurboTax if you want a seamless and efficient experience when filing your cryptocurrency taxes.
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