TurboTax Commercial Tax Tips For The Crypto Enthusiast - Presented By TheStreet + TurboTax Spot

VIDEO turbotax Tax Tips For The Crypto Enthusiast - Presented By TheStreet + TurboTax TV commercial 2021 • Investing and working with cryptocurrency like Bitcoin is more popular than ever, but what does it mean for your taxes? CPA and TurboTax tax expert Lisa Greene-Lewis has your breakdown of how the IRS handles crypto. TurboTax Home: https://turbotax.intuit.com TurboTax Support: https://ttlc.intuit.com/ TurboTax Blog: https://blog.turbotax.intuit.com TurboTax Twitter: https://twitter.com/turbotax TurboTax Facebook: https://www.facebook.com/TurboTax TurboTax Instagram: https://www.instagram.com/turbotax/ TurboTax Pinterest: https://www.pinterest.com/turbotax/ TurboTax Tumblr: http://turbotax.tumblr.com/ ~~~ Video Transcript ~ Title: Tips For The Crypto Enthusiast - Presented By TheStreet + TurboTax - [Reporter] TurboTax helps you navigate the 2020 tax season. - A lot of investors made money last year in the cryptocurrency market, but can they pay their tax bills in Bitcoin? Let's find out. Lisa Greene-Lewis CPA and tax expert at TurboTax is here to tell us, so how does the IRS view crypto? - They did issue guidelines in October of last year for the first time since 2014, and they view it as an investment. They look at it just the way I think about it. However you use it is how it's taxed. So for instance, if you hold onto it as an investment then you have like a capital gain or loss. Let's say people are getting paid wages in cryptocurrency, so if it's paid in your wages, it's on your W2 and it's included as income. - So how does TurboTax help you if you're a big cryptocurrency trader and you make some money or you lose some money? - Yeah, so TurboTax, we have redesigned the TurboTax Premier product for the first time in 10 years, and we make it really easy for people to figure out their gains and losses. I mean people that are trading in cryptocurrency they're doing tons of transactions and we've cracked this big pain point for them where they don't have to manually enter their transactions and figure out what their gains and losses are. So they can import over 2000 transactions at once into TurboTax and it will figure out their gains and losses, and we work with, you know, crypto platforms like Coinbase and others.

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