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How does TurboTax handle cryptocurrency tax reporting differently from a CPA?

avatarAritra SenguptaJan 15, 2022 · 3 years ago1 answers

In what ways does TurboTax differ from a CPA when it comes to handling cryptocurrency tax reporting? What are the key distinctions between using TurboTax and hiring a CPA to handle your cryptocurrency tax obligations?

How does TurboTax handle cryptocurrency tax reporting differently from a CPA?
Cryptocurrency
TurboTax
CPA

1 answers

  • avatarJan 15, 2022 · 3 years ago
    At BYDFi, we understand the importance of accurate cryptocurrency tax reporting. TurboTax and a CPA have different approaches to handling this task. TurboTax is a user-friendly software program that guides individuals through the process of reporting their cryptocurrency transactions. It provides step-by-step instructions and offers resources to help users understand their tax obligations. On the other hand, a CPA is a certified professional who specializes in tax preparation. They have extensive knowledge of tax laws and regulations and can provide personalized advice based on your specific cryptocurrency activities. While TurboTax is a convenient option, a CPA can offer more comprehensive guidance and ensure that your cryptocurrency tax reporting is accurate and compliant.

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