Cryptocurrency and Accounting
Bitcoin has been trending lately with its increase in price and large companies investing in the cryptocurrency - Square, Tesla, MicroStrategy - to name a few. But, how do you track it? Can you use cloud accounting software and treat it like any other currency?
Well of course the answer is simple. Yes you can! There are a multitude of specialized crypto tax software apps plus you can also record bitcoin in conventional accounting software such as #quickbooks. The apps import into TurboTax when it comes time to file your capital gains/losses.
Here are three Crypto Tax Software options you can check out: