What if Turbo Tax Supported Cryptocurrency Trading and Mining
It would be helpful if Turbotax 2018 / 19 included a cryptocurrency option inside their Investments menu. Currently, I use the 'other investment' : 'property' - (non-real-estate investment) category to demonstrate gains and losses for digital currency.
I will be entering the power cost and ASIC / GPU computing expenditures in 'other Investment Expenses' for my 2018 mining endeavor along with trade fees.
Notice 2014-21 from the IRS states that I can deduct mining and power costs, from my crypto gains - I hope Turbotax is able to reconcile this properly - otherwise I will have to deduct from gains myself; and I rather not do that since many exchanges are being required to report to the IRS and the individual account P/L's will not match.
Does anyone else agree that a Crypto / Mining addition would be useful?