In addition to TurboTax Live Full Service, TurboTax is also launching TurboTax Online and TurboTax Live Assisted products where you can receive enhanced guidance and technological advances for crypto investments, stocks, self-employed and 1099-K income, giving you the confidence your taxes are done right regardless of your tax situation. If you are an Incorporated business owner with a multi-member LLC, S-corp, or partnership you will be matched with and can fully hand your taxes to a specialized tax expert experienced in the complexities of small business taxes. TurboTax will also expand to small business returns with the launch of TurboTax Live Full Service Business Tax in December 2022. Beginning January 2023, you can choose to go through a Spanish language Full Service experience – including fully translated shopping and onboarding experiences and get matched to a bilingual tax expert who will prepare, sign and file your taxes. In addition, Full Service will better serve the growing Hispanic population. An added bonus: you can even request to have the same tax expert do your taxes again next year. With Full Service, you get matched with an expert you get to know and trust, who can help you make the best decisions based on your situation. Specialized Self-Employed, Investor and Small Business, Tax Expertsįrom the start, if you are self-employed, own an incorporated small business or you are an investor, you will be matched with specialized tax experts experienced in your situation, who can optimize your tax savings and provide year-round guidance and savings strategies. You can hand your taxes off to a tax expert and be done in one meeting and get all of your questions answered in real time with the option to review everything before filing so you don’t have to wait and wonder about when your taxes will be done. Taking the pain and confusion out of gathering documents and data, you will get a quick call to help you easily organize your documents, start loading them into your secure tax hub, and match you to a dedicated tax expert.įull Hand Off and Taxes Done in One Session *Note, our Cryptocurrency Tax Interactive Calculator is for estimation purposes only and allows you to get an estimate on one sales transaction at a time.Here’s what’s new with TurboTax Live Full Service this year: Start TurboTax Live Full Service today, in English or Spanish, and get your taxes done and off your mind. You can meet with a TurboTax Live Full Service Premium tax expert who specializes in crypto, who can prepare, sign and file your taxes, so you can be 100% confident your taxes are done right. Our free Cryptocurrency Tax Interactive Calculator will help you estimate your taxes whether you received your cryptocurrency through purchase, as a payment for services, or in exchange for goods.Īt tax time, TurboTax Premium will guide you through your cryptocurrency transactions, allow you to import up to 20,000 cryptocurrency transactions at once, and figure out your gains and losses. To help you with your tax planning for tax year 2023 you can also find out if you have a capital gain or loss and compare your potential tax outcome of a short term versus long term capital gain, whether you already sold or you are considering selling. Check out our free Cryptocurrency Tax Interactive Calculator, that in just one screen, will answer your burning questions about your cryptocurrency/bitcoin sales and give you an estimate of how much your sales will be taxed and much more. If you have these questions don’t worry, we have you covered. If you are new to the cryptocurrency/bitcoin investing world, you may have questions we often hear like, “How is my cryptocurrency taxed?”, “How are my profits/losses taxed?”, or “How much is the tax on my cryptocurrency/bitcoin sales?” According to our TurboTax Tax Trends Report, 2.9% of tax filers reported crypto transactions in tax year 2021 and 4.5% in the 25 to 34 age group reported crypto transactions in tax year 2021.Īlthough interest in cryptocurrency continues to grow and the IRS has issued guidance on virtual currency, new investors still have questions about what to do with it and how it is taxed. The growth of cryptocurrency/bitcoin investments has exploded in recent years.
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