Gaurav GuptaDec 26, 2021 · 3 years ago5 answersHow does Turbo Tax calculate the cost for reporting cryptocurrency gains and losses in 2023?
Can you explain how Turbo Tax calculates the cost for reporting cryptocurrency gains and losses in 2023? I'm curious about the specific methods and algorithms used by Turbo Tax to determine the cost basis for cryptocurrencies. How does Turbo Tax handle different types of transactions, such as buying, selling, and trading cryptocurrencies? Does it take into account factors like transaction fees and exchange rates? I want to make sure I accurately report my cryptocurrency gains and losses for tax purposes.
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