What's the best way to file taxes for cryptocurrency earnings: H&R Block or TurboTax?

3 answers

• Dec 17, 2021 · 3 years ago
  As a tax professional, I would recommend consulting with a certified accountant who specializes in cryptocurrency tax filing. They will have the expertise to ensure that you are accurately reporting your earnings and taking advantage of any applicable deductions or credits. While H&R Block and TurboTax are popular options for general tax filing, cryptocurrency taxes can be complex and it's best to seek professional advice. If you prefer a DIY approach, TurboTax offers a specific section for cryptocurrency tax reporting. They provide step-by-step guidance and ask relevant questions to help you accurately report your earnings. However, keep in mind that you will still need to have a good understanding of cryptocurrency tax regulations. On the other hand, H&R Block has tax professionals who are knowledgeable about cryptocurrency taxes. They can provide personalized assistance and ensure that your tax return is filed correctly. However, their services may come at a higher cost compared to using tax software like TurboTax. Ultimately, the best way to file taxes for cryptocurrency earnings depends on your individual situation and comfort level. It's important to consider the complexity of your earnings, your knowledge of tax regulations, and your budget before making a decision.
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• Dec 17, 2021 · 3 years ago
  Filing taxes for cryptocurrency earnings can be a daunting task, but it's important to ensure that you comply with tax regulations. Both H&R Block and TurboTax offer services that can help you with this process. H&R Block is a well-established tax preparation company with experienced professionals who can assist you in filing your cryptocurrency taxes. They have a strong reputation and can provide personalized advice based on your specific situation. However, their services may be more expensive compared to using tax software like TurboTax. TurboTax, on the other hand, is a popular tax software that offers a specific section for cryptocurrency tax reporting. They provide step-by-step guidance and ask relevant questions to help you accurately report your earnings. This can be a more cost-effective option if you are comfortable with using tax software and have a good understanding of cryptocurrency tax regulations. In the end, the best way to file taxes for cryptocurrency earnings depends on your individual needs and preferences. Consider factors such as your budget, level of expertise, and the complexity of your earnings before making a decision.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we recommend seeking professional advice when it comes to filing taxes for cryptocurrency earnings. While H&R Block and TurboTax are popular options, they may not have the specialized knowledge required for cryptocurrency tax filing. Consulting with a certified accountant who specializes in cryptocurrency taxes can ensure that you are accurately reporting your earnings and taking advantage of any applicable deductions or credits. That being said, if you prefer a DIY approach, both H&R Block and TurboTax offer services for cryptocurrency tax filing. H&R Block has tax professionals who are knowledgeable about cryptocurrency taxes and can provide personalized assistance. TurboTax, on the other hand, offers a specific section for cryptocurrency tax reporting in their software. Ultimately, the best way to file taxes for cryptocurrency earnings depends on your individual situation. Consider factors such as the complexity of your earnings, your knowledge of tax regulations, and your budget before making a decision.
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