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33bmarc
Level 2

Does the Do-it-for-me service include crypto and DeFi in particular?

 
8 Replies
tagteam
Level 15

Does the Do-it-for-me service include crypto and DeFi in particular?

See https://turbotax.intuit.com/personal-taxes/online/live

 

Full Service will prepare your entire individual income tax return based upon the level you select.

33bmarc
Level 2

Does the Do-it-for-me service include crypto and DeFi in particular?

It does mention crypto but does that also include defi? Defi is like a whole new level of complexity. Maybe I can get a refund if defi isn’t covered.

Critter-3
Level 15

Does the Do-it-for-me service include crypto and DeFi in particular?

Don't expect any tax preparer or CPA to compile the information needed to put on a tax return. All crypto and defy must be presented to the prepare in a fashion that can be easily read and entered on a tax return. They will not glean through 100+ pages of sales and purchases to get the information to put on the form 8949.

33bmarc
Level 2

Does the Do-it-for-me service include crypto and DeFi in particular?

Yes! That’s exactly what I mean, pages and pages of sales. 

I can provide CSV exports of the transactions. You don’t think this’ll make a difference?

fanfare
Level 15

Does the Do-it-for-me service include crypto and DeFi in particular?

IRS requires SELL transaction details to be listed on your own Form 8949,
or on your other forms (e.g. spreadsheets) which have the same information and in the same manner as Form 8949.
Adjust your csv files so the columns are in the same order as on Form 8949.

Put a header with your name tax year and SS Number.

 

I suspect your CPA would assign you to do this part.

 

At tax time, you (or your Live CPA) will subtotal your SELL transactions by Sales Category  (this is pretty simple).

 

@33bmarc 

 

Use the summary option and then you can mail in the printout of the CSV files.
See the TurboTax instructions that will pop up.

33bmarc
Level 2

Does the Do-it-for-me service include crypto and DeFi in particular?

Hmm, interesting. Thank for that information.

Critter-3
Level 15

Does the Do-it-for-me service include crypto and DeFi in particular?

Which broker are you using ?   They usually have options to get the form 8949 filled in ... tradezero has the option for just $12.

33bmarc
Level 2

Does the Do-it-for-me service include crypto and DeFi in particular?

Using a self custodial wallet actually

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