Cryptocurrency Q&A
How do I report a bitcoin transaction?
How do I report a bitcoin transaction?
Stefano
Thu Dec 26 2024
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6 answers
1438
I need to know the steps for reporting a Bitcoin transaction. I'm not sure how to do it properly and want to make sure everything is done correctly.
6 answers
CryptoPioneer
Sat Dec 28 2024
Begin by calculating your crypto gains and losses. This involves determining the difference between the amount you paid for the cryptocurrency and the amount you sold it for.
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HanbokGlamour
Sat Dec 28 2024
Once you have your gains and losses, you need to complete IRS Form 8949. This form is used to report sales and exchanges of capital assets, including cryptocurrency.
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EnchantedNebula
Sat Dec 28 2024
After completing Form 8949, you will need to include the totals from this form on Schedule D of your tax return. Schedule D is used to report capital gains and losses.
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GliderPulse
Sat Dec 28 2024
In addition to gains and losses, you must also include any crypto income on your tax return. This includes income from mining, staking, or airdrops.
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SsangyongSpiritedStrengthCourageBravery
Sat Dec 28 2024
Reporting crypto on your taxes requires a step-by-step approach.
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