What are the best tax software options for reporting cryptocurrency gains: TurboTax Premier or TurboTax Free?

5 answers

• Larsson TerrellAug 06, 2021 · 4 years ago
  When it comes to reporting cryptocurrency gains, both TurboTax Premier and TurboTax Free can be viable options. TurboTax Premier is the more advanced version and is specifically designed for investors and traders who have more complex tax situations. It offers additional features and guidance for reporting investment income, including cryptocurrency gains. On the other hand, TurboTax Free is suitable for individuals with simpler tax situations and does not support as many forms and schedules as TurboTax Premier. If you have a large number of cryptocurrency transactions or need more advanced reporting options, TurboTax Premier might be the better choice. However, if your tax situation is relatively straightforward and you don't want to pay for software, TurboTax Free can still handle basic cryptocurrency reporting.
  825

  413
• Peter VuongNov 09, 2024 · 10 months ago
  Choosing between TurboTax Premier and TurboTax Free depends on your specific needs and tax situation. If you have a significant amount of cryptocurrency transactions and need more advanced reporting features, TurboTax Premier might be the better option. It offers additional guidance and support for reporting investment income, including cryptocurrency gains. However, if your tax situation is relatively simple and you don't want to spend money on tax software, TurboTax Free can still handle basic cryptocurrency reporting. It's important to evaluate your individual requirements and consider factors such as the number of transactions, complexity of your investments, and your budget before making a decision.
  713

  238
• Nduduzo NjencaneMar 16, 2021 · 4 years ago
  As an expert in the field, I can say that TurboTax Premier is a great option for reporting cryptocurrency gains. It provides comprehensive support for investors and traders, including guidance on reporting investment income from cryptocurrencies. With TurboTax Premier, you can easily import your cryptocurrency transactions and the software will automatically calculate your gains and losses. It also offers additional features and forms that are specifically designed for investors. However, if you have a simple tax situation and don't want to pay for tax software, TurboTax Free can still handle basic cryptocurrency reporting. It's important to consider your specific needs and budget when choosing between the two options.
  728

  182
• Omar TarbSep 30, 2023 · 2 years ago
  TurboTax Premier and TurboTax Free are both popular tax software options for reporting cryptocurrency gains. TurboTax Premier is the more advanced version and offers additional features and guidance for investors and traders. It can handle more complex tax situations and provides support for reporting investment income, including cryptocurrency gains. On the other hand, TurboTax Free is suitable for individuals with simpler tax situations and can handle basic cryptocurrency reporting. It's important to evaluate your tax situation and consider factors such as the number of transactions and complexity of your investments before deciding which software to use. Both options have their own strengths and it ultimately depends on your individual needs.
  755

  151
• Niki JanMay 05, 2025 · 4 months ago
  When it comes to reporting cryptocurrency gains, TurboTax Premier is often recommended for its advanced features and comprehensive support for investors and traders. It offers specific guidance on reporting investment income from cryptocurrencies and can handle more complex tax situations. However, if your tax situation is relatively simple and you don't want to spend money on tax software, TurboTax Free can still handle basic cryptocurrency reporting. It's important to assess your individual needs and consider factors such as the number of transactions and complexity of your investments before making a decision. Both options have their own advantages and it's crucial to choose the one that best suits your requirements.
  729

  122