![]() Thank you very much TurboTax for letting us recognize how much Henry has helped us. He likes it because it makes it easy to do, and it’s quick. We’ve used TurboTax for many, many years. We’re very grateful, and thank you very much TurboTax. Winning this money helps us in that we can help Henry with his college books, classes, and bills. He’s helped my husband and I so much this past year, and we’re both proud and grateful to him. Henry has done school with her, helps her with homework, takes her bike riding, and for walks. When COVID-19 struck, he lost his job, and committed himself to helping us with Daisy. Henry, my nominee, has helped us so much with raising our granddaughter. The challenge we faced last year is a common one that many people faced – being quarantined with a small child. We both have always used TurboTax in the past because it’s so reliable and we plan to use it this year too. When I told her about this she was so overjoyed, and we both started crying because this will help both of us so much. I wanted to nominate her because I know this has been a stressful time for her financially. Her love and prayers meant so much to me. It was tough, but my aunt and one of my best friends in the world, Cecelia, always called and did whatever she could to make sure we were alright. I was so thankful, and because of the pandemic that meant I, along with my sisters, had to be sup er careful and stay at home with him to care for him. On my birthday in 2020, we received a call that he would be receiving his transplant. My dad was in desperate need of an organ transplant and me and m y family knew how critical it was for him to receive it. I faced a huge challenge last year and needed so much support. Being able to make their financial situation a little easier and being able to give him some special gifts will certainly give me a little lift. Winning this sweepstakes will give me a little lift because I will share my prize with my niece and her six-year-old son who was just diagnosed with Type 1 Diabetes. My nominee was my son who gave me many little lifts by staying in touch with me by phone and email and making me laugh. My biggest challenge was COVID-19 and the inability to see friends and family. TurboTax launched the #LittleLifts Sweepstakes to give people a chance to pay it forward by recognizing and nominating a person that made a difference in their lives.Įach week of the sweepstakes, one lucky winner and their nominee were awarded $1,000 each! We are highlighting a few of these lucky winners, some of the challenges they’ve faced, and the stories of how their nominees helped give them a “Little Lift” during a difficult year. Some of us found silver linings by connecting with people who gave us support, encouragement and helping hands in challenging times. Tens of thousands of crypto and bitcoin investors from all over the world use the platform today to handle their tax reporting.We know the past year has been hard on many people, emotionally and financially. Cryptocurrency Tax SoftwareĬoinLedger is a cryptocurrency tax software platform built to automate the entire crypto tax reporting process. We discuss the detailed mechanics of crypto taxes in our blog post, The Complete Guide to Cryptocurrency Taxes. This applies for all cryptocurrencies.Īlternatively, if you sold your cryptocurrency for less than you acquired it for, you can write off that capital loss to save money on your crypto taxes. Rates fluctuate based on your tax bracket as well as depending on whether it was a short term vs. ![]() This gain needs to be reported on your tax return, and depending on what tax bracket you fall under, you pay a certain percentage of tax on the gain. ![]() Just like other forms of property-stocks, bonds, real estate-you incur a tax reporting requirement when you sell, trade, or otherwise dispose of your cryptocurrency for more or less than you acquired it for.įor example, if you purchased 0.1 bitcoin for $2,000 in June of 2020 and then sold it two months later for $3,000, you would have a $1,000 capital gain. The IRS treats cryptocurrencies as property for tax purposes, not as currency. An Overview of Cryptocurrency Tax Implications
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