So, you’ve gotten some cryptocurrencies. You’ve held them. You’ve seen financial benefits and rewards. It’s been a long journey, and you earned it with your smart investing and understanding of this increasingly expanding phenomenon. There’s just one problem: how do you file taxes on it? Because, depending on specific circumstances, you may need to do so. It’s currency after all.
Well, if you’re using Coinbase, there’s a solution for you. While I cannot give you any tax advice, TurboTax can, and they’ve begun working with Coinbase to help anyone who uses cryptocurrency keep their new cryptos straight and in line with tax codes and laws.
And, while I’m sure bringing up taxes might not be the most pleasant of topics, nor the most exciting, this is a piece of excellent news. One, because filing regular taxes can be a challenge when working with old-school income, let alone such a new frontier as a cryptocurrency, and, two, because it’s yet another normalizer for the cryptocurrency. Another instance of something incredibly mundane being tied to cryptos. Every time that happens it helps.
So, investors and all the regular people using cryptocurrencies, there’s no need to worry. Come tax time, TurboTax has you covered and is ready to help.