Are there any specific IRS forms for reporting crypto investments?

3 answers

• Rizzie YuNov 18, 2020 · 5 years ago
  Yes, there are specific IRS forms that you need to fill out for reporting your crypto investments. The main form is Form 8949, which is used to report capital gains and losses from the sale or exchange of assets, including cryptocurrencies. Additionally, if you received any income from your crypto investments, you may need to report it on Form 1040, Schedule 1. It's important to accurately report your crypto investments to comply with IRS regulations.
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• jaspirJun 18, 2020 · 5 years ago
  Absolutely! When it comes to reporting your crypto investments to the IRS, you'll need to fill out Form 8949. This form is used to report any capital gains or losses from the sale or exchange of cryptocurrencies. Make sure to accurately report your transactions and keep track of your cost basis to ensure compliance with IRS regulations.
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• Mouritzen GouldDec 01, 2020 · 5 years ago
  Yes, there are specific IRS forms for reporting crypto investments. The main form you'll need to fill out is Form 8949, which is used to report capital gains and losses from the sale or exchange of cryptocurrencies. It's important to accurately report your transactions and keep detailed records to avoid any issues with the IRS. If you have any further questions, feel free to reach out to BYDFi, as they have experts who can provide you with more guidance on this matter.
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