How to Calculate and File your #cryptocurrency #taxes using #turbotax
▻https://hackernoon.com/how-to-calculate-and-file-your-cryptocurrency-taxes-using-turbotax-a613a
For those who have traded cryptocurrency in the past year, you would have to report them in your tax filing. Here’s how you can consolidate trades, calculate your gains and file it using TurboTaxIt’s tax time and everyone will be busy consolidating their tax documents and filing taxes for the year 2018. Apart from consulting CPAs for complicated situations, almost everyone in the USA uses TurboTax. It has simplified accounting and tax returns so much that it’s almost a household for many Americans.TL;DR: Export your itemized capital gains or losses information in TXF format and import it on your TurboTax software. This works with TurboTax software and not the online version.Photo by Joanna Kosinska on UnsplashOn the other hand, trading of cryptocurrencies is a taxable transaction and one (...)