What are the steps to restart on TurboTax for users who have traded cryptocurrencies?

1 answers

• Jan 14, 2022 · 3 years ago
  Certainly! Here's a step-by-step guide to restart on TurboTax for users who have traded cryptocurrencies: 1. Log in to your TurboTax account and navigate to the section for reporting investment income. 2. Look for the option to add or import your cryptocurrency transactions. 3. If you have a CSV file or a tax document from your cryptocurrency exchange, choose the import option and follow the instructions to upload the file. 4. If you don't have a file to import, select the manual entry option and enter the details of each cryptocurrency transaction manually. 5. Provide accurate information about the date, type of transaction (buy, sell, exchange), amount, and cost basis for each trade. 6. TurboTax will automatically calculate the capital gains or losses based on the information you provide. 7. Review your entries and make sure everything is correct before submitting your tax return. Remember, it's important to maintain accurate records of your cryptocurrency trades and consult with a tax professional if you have any specific questions or concerns. I hope this helps! Let me know if you have any further questions.
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