Is there a significant advantage to using the self-employed version of Turbotax over Turbotax Premier for cryptocurrency tax purposes?

3 answers

• Dec 29, 2021 · 3 years ago
  The self-employed version of Turbotax offers additional features specifically designed for freelancers and independent contractors. When it comes to cryptocurrency taxes, this version may provide more comprehensive guidance and support for reporting self-employment income from cryptocurrency activities. It can help you accurately calculate your profits and losses, track expenses, and ensure compliance with tax regulations. Overall, using the self-employed version of Turbotax can simplify the process of filing cryptocurrency taxes for self-employed individuals.
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• Dec 29, 2021 · 3 years ago
  Turbotax Premier is primarily designed for investors and individuals with investment income. While it does offer some support for reporting cryptocurrency transactions, it may not have the same level of specificity and guidance as the self-employed version. If you have significant self-employment income from cryptocurrency activities, it may be beneficial to use the self-employed version of Turbotax to ensure accurate reporting and maximize deductions related to your self-employment activities.
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• Dec 29, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I would recommend using the self-employed version of Turbotax for filing cryptocurrency taxes. It is specifically tailored to meet the needs of self-employed individuals and provides comprehensive support for reporting self-employment income from cryptocurrency activities. By using this version, you can ensure accurate reporting, maximize deductions, and stay compliant with tax regulations. It can save you time and effort in preparing your tax return and help you take full advantage of the tax benefits available to self-employed individuals.
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