What are the steps to switch the product type in TurboTax for reporting digital currency transactions?

3 answers

• Merrill BengtsenFeb 20, 2024 · a year ago
  Sure! To switch the product type in TurboTax for reporting digital currency transactions, follow these steps: 1. Open TurboTax and sign in to your account. 2. Navigate to the 'Federal' section and select 'Wages & Income'. 3. Scroll down and click on 'I'll choose what I work on'. 4. Look for the 'Investment Income' section and click on 'Start/Revisit'. 5. In the 'Stocks, Mutual Funds, Bonds, Other' section, click on 'Start/Revisit'. 6. Scroll down and select 'Yes' when asked if you sold any investments. 7. Look for the 'Cryptocurrency' section and click on 'Start/Revisit'. 8. Follow the prompts to enter your digital currency transactions. 9. Once you have entered all the necessary information, review and submit your tax return. Please note that these steps may vary slightly depending on the version of TurboTax you are using. If you encounter any issues, it's always a good idea to consult TurboTax's official documentation or reach out to their customer support for assistance.
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• OnlybullyJul 09, 2020 · 5 years ago
  No problem! Switching the product type in TurboTax for reporting digital currency transactions is easy. Just follow these steps: 1. Log in to your TurboTax account. 2. Go to the 'Federal' section and click on 'Wages & Income'. 3. Scroll down and select 'I'll choose what I work on'. 4. Look for the 'Investment Income' section and click on 'Start/Revisit'. 5. In the 'Stocks, Mutual Funds, Bonds, Other' section, click on 'Start/Revisit'. 6. Scroll down and choose 'Yes' when asked if you sold any investments. 7. Find the 'Cryptocurrency' section and click on 'Start/Revisit'. 8. Follow the instructions to enter your digital currency transactions. 9. Review your tax return and submit it when you're ready. Remember, if you have any difficulties, TurboTax's support team is always there to help you.
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• Javeria NawalAug 12, 2023 · 2 years ago
  Certainly! Here are the steps to switch the product type in TurboTax for reporting digital currency transactions: 1. Log in to your TurboTax account. 2. Navigate to the 'Federal' section and select 'Wages & Income'. 3. Scroll down and click on 'I'll choose what I work on'. 4. Look for the 'Investment Income' section and click on 'Start/Revisit'. 5. In the 'Stocks, Mutual Funds, Bonds, Other' section, click on 'Start/Revisit'. 6. Scroll down and select 'Yes' when asked if you sold any investments. 7. Locate the 'Cryptocurrency' section and click on 'Start/Revisit'. 8. Follow the prompts to enter your digital currency transactions. 9. Once you have entered all the necessary information, review and submit your tax return. Please note that these steps may vary slightly depending on the version of TurboTax you are using. If you have any further questions, feel free to ask!
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