Does Turbotax support reporting crypto gains and losses?

3 answers

• alexfrnnNov 11, 2021 · 4 years ago
  Yes, Turbotax does support reporting crypto gains and losses. It has specific sections and forms dedicated to cryptocurrency transactions. You can easily import your transaction history from popular exchanges and wallets, and Turbotax will automatically calculate your gains or losses based on the cost basis and fair market value of your digital assets. It's a convenient and reliable option for crypto tax reporting.
  418

  209
• Ricardo Caeiro de AbreuMay 02, 2022 · 3 years ago
  Absolutely! Turbotax has recognized the growing popularity of cryptocurrencies and has incorporated features to handle crypto tax reporting. You can enter your transaction details manually or import them from exchanges and wallets. Turbotax will guide you through the process and ensure accurate reporting of your gains and losses. It's a user-friendly solution for crypto investors and traders.
  395

  132
• Haransh SinghAug 24, 2021 · 4 years ago
  Yes, Turbotax supports reporting crypto gains and losses. As an alternative, you can also consider using specialized crypto tax software like BYDFi, which offers advanced features specifically designed for cryptocurrency tax reporting. BYDFi provides comprehensive tools to track your transactions, calculate gains and losses, and generate tax reports. It's a great option for those who want a more specialized approach to crypto tax reporting.
  444

  111