What is the difference between TurboTax Deluxe and Premier for cryptocurrency tax filing?

3 answers

• Dec 28, 2021 · 3 years ago
  TurboTax Deluxe and Premier are both versions of the popular tax preparation software TurboTax. The main difference between the two is the level of features and support they offer for cryptocurrency tax filing. TurboTax Deluxe is designed for individuals who have basic tax filing needs and may have some investments or rental property income. It provides guidance for reporting income from cryptocurrency, but it may not have all the advanced features specifically tailored for cryptocurrency traders. On the other hand, TurboTax Premier is more suitable for individuals who actively trade cryptocurrencies or have complex investment portfolios. It offers additional features such as specific guidance for reporting capital gains and losses from cryptocurrency trades, calculating cost basis, and handling multiple exchanges. Overall, TurboTax Premier provides a more comprehensive solution for cryptocurrency tax filing compared to TurboTax Deluxe.
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• Dec 28, 2021 · 3 years ago
  When it comes to cryptocurrency tax filing, TurboTax Deluxe and Premier offer different levels of support. TurboTax Deluxe is more suitable for individuals with basic tax filing needs and minimal cryptocurrency activity. It provides guidance for reporting cryptocurrency income, but it may not have all the advanced features specifically tailored for cryptocurrency traders. On the other hand, TurboTax Premier is designed for individuals who actively trade cryptocurrencies or have complex investment portfolios. It offers more advanced features such as specific guidance for reporting capital gains and losses from cryptocurrency trades, calculating cost basis, and handling multiple exchanges. So, if you are actively trading cryptocurrencies or have a more complex tax situation, TurboTax Premier would be a better choice for you.
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• Dec 28, 2021 · 3 years ago
  As a representative of BYDFi, I can tell you that TurboTax Premier is a great option for cryptocurrency tax filing. It offers advanced features and specific guidance for reporting cryptocurrency trades, which can be very helpful for individuals who are actively trading cryptocurrencies. With TurboTax Premier, you can easily calculate your capital gains and losses from cryptocurrency trades, determine your cost basis, and handle multiple exchanges. It provides a comprehensive solution for cryptocurrency tax filing, ensuring that you accurately report your income and comply with tax regulations. So, if you are a cryptocurrency trader, I highly recommend using TurboTax Premier for your tax filing needs.
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