Which version, TurboTax 2015 Deluxe or Premier, is better for filing taxes for cryptocurrency trading?
omkar kadamDec 26, 2021 · 3 years ago3 answers
I am wondering which version of TurboTax, Deluxe or Premier, would be more suitable for filing taxes related to cryptocurrency trading. I have been actively trading cryptocurrencies and want to ensure that I am properly reporting my gains and losses. Can you provide some insights on the differences between the two versions and which one would be more beneficial for cryptocurrency traders?
3 answers
- Dec 26, 2021 · 3 years agoWhen it comes to filing taxes for cryptocurrency trading, it's important to choose the right version of TurboTax. Both Deluxe and Premier versions offer features that can help you accurately report your cryptocurrency gains and losses. However, the Premier version is more suitable for cryptocurrency traders as it provides additional guidance and support for investment income, including cryptocurrencies. With Premier, you'll have access to expert advice and step-by-step guidance specific to your cryptocurrency trading activities, ensuring that you maximize your deductions and minimize any potential audit risks. So, if you're actively trading cryptocurrencies, TurboTax Premier would be the better choice for filing your taxes.
- Dec 26, 2021 · 3 years agoIf you're just starting out with cryptocurrency trading and have relatively simple tax situations, TurboTax Deluxe may be sufficient for your needs. Deluxe offers all the basic features for reporting income, including cryptocurrency gains and losses. It provides guidance on reporting various types of income and deductions, ensuring that you accurately report your cryptocurrency activities. However, if you have more complex trading activities or significant investment income from cryptocurrencies, it's recommended to upgrade to TurboTax Premier for more comprehensive support and guidance.
- Dec 26, 2021 · 3 years agoAs an expert in the cryptocurrency industry, I would recommend using TurboTax Premier for filing taxes related to cryptocurrency trading. TurboTax Premier is specifically designed to handle investment income, including cryptocurrencies, and provides detailed guidance on reporting gains and losses. It offers a range of features and tools to help you accurately report your cryptocurrency activities and maximize your deductions. Additionally, TurboTax Premier keeps up with the latest tax laws and regulations, ensuring that you stay compliant with the ever-changing cryptocurrency tax landscape. So, if you want peace of mind and expert support while filing your taxes for cryptocurrency trading, TurboTax Premier is the way to go.
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