What are the steps to set up a Turbo.tax account for tracking cryptocurrency transactions?

1 answers

• Nov 28, 2021 · 3 years ago
  As an expert in cryptocurrency tax reporting, I can guide you through the process of setting up a Turbo.tax account for tracking your cryptocurrency transactions. Here are the steps: 1. Begin by visiting the Turbo.tax website and creating an account if you don't already have one. 2. Once you're logged in, navigate to the 'Income' section and select 'Cryptocurrency' as your income source. 3. Turbo.tax will provide you with instructions on how to import your cryptocurrency transactions from your exchange or wallet. 4. Take the time to review the imported transactions and make any necessary adjustments or additions. 5. If there are any transactions that were not automatically imported, you can manually enter them. 6. Turbo.tax may ask for additional information, such as the cost basis of your cryptocurrencies. Ensure that you provide accurate details. 7. Finally, proceed with the tax filing process, making sure to accurately report your cryptocurrency activities. If you have any specific questions or need further assistance, feel free to reach out to Turbo.tax's support team for expert guidance.
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