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What are the steps to perform a Roth conversion to invest in digital currencies with TurboTax?

avatarTabassum ShaikhDec 25, 2021 · 3 years ago1 answers

Can you provide a step-by-step guide on how to perform a Roth conversion to invest in digital currencies using TurboTax? I'm interested in taking advantage of the tax benefits of a Roth IRA and want to invest in digital currencies, but I'm not sure how to go about it. Any help would be appreciated!

What are the steps to perform a Roth conversion to invest in digital currencies with TurboTax?
Roth Conversion
TurboTax
Digital Currencies

1 answers

  • avatarDec 25, 2021 · 3 years ago
    Absolutely! Here's a step-by-step guide to performing a Roth conversion and investing in digital currencies using TurboTax: 1. Open TurboTax and navigate to the 'IRA' section. 2. Select the option to convert your Traditional IRA to a Roth IRA. 3. Enter your IRA account details and the amount you want to convert. 4. Choose the digital currencies you want to invest in and specify the allocation. 5. Review the conversion details and make any necessary adjustments. 6. Follow the prompts to complete the conversion process. 7. TurboTax will provide instructions on how to report your Roth IRA investment in digital currencies. I hope this helps! Let me know if you have any other questions.

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