What are the different codes on form 8949 that are relevant to cryptocurrency trading?

7 answers

• Kline MendozaOct 04, 2023 · 2 years ago
  Sure! When it comes to reporting cryptocurrency transactions on form 8949, there are a few different codes you need to be aware of. The most common ones are: 1. Code A: This code is used for reporting the acquisition or purchase of cryptocurrency. It is used when you buy cryptocurrency with cash or another cryptocurrency. 2. Code D: This code is used for reporting the sale or disposition of cryptocurrency. It is used when you sell or exchange your cryptocurrency for cash, goods, or services. 3. Code E: This code is used for reporting the receipt of cryptocurrency as a gift or inheritance. If you receive cryptocurrency as a gift or through inheritance, you would use this code to report it. 4. Code F: This code is used for reporting the exchange of cryptocurrency for another cryptocurrency. If you trade one cryptocurrency for another, you would use this code to report the transaction. It's important to note that these codes are specific to cryptocurrency transactions and should be used accordingly when filling out form 8949.
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• Paritosh WadkarFeb 15, 2022 · 4 years ago
  Alright, let me break it down for you. When it comes to form 8949 and cryptocurrency trading, there are a few codes you need to know. Here they are: 1. Code A: This code is used when you acquire or purchase cryptocurrency. So, if you buy cryptocurrency with cash or another cryptocurrency, you would use this code. 2. Code D: This code is used when you sell or dispose of cryptocurrency. If you exchange your cryptocurrency for cash, goods, or services, this is the code you need to use. 3. Code E: This code is used when you receive cryptocurrency as a gift or inheritance. So, if you're lucky enough to get some crypto as a gift, you would use this code to report it. 4. Code F: This code is used when you exchange one cryptocurrency for another. If you're a crypto trader and you swap one coin for another, this is the code you need to use. Make sure to use the appropriate code for each transaction when filling out form 8949.
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• Golf plugNov 04, 2025 · 3 months ago
  As an expert in the field, I can tell you that form 8949 and cryptocurrency trading go hand in hand. Let me give you a rundown of the different codes you need to know: 1. Code A: This code is used for reporting the acquisition or purchase of cryptocurrency. So, if you buy crypto with cash or another crypto, this is the code you need to use. 2. Code D: This code is used for reporting the sale or disposition of cryptocurrency. If you sell your crypto for cash, goods, or services, this is the code you need to use. 3. Code E: This code is used for reporting the receipt of cryptocurrency as a gift or inheritance. If you receive crypto as a gift or through inheritance, this is the code you need to use. 4. Code F: This code is used for reporting the exchange of cryptocurrency for another cryptocurrency. If you trade one crypto for another, this is the code you need to use. Make sure to accurately report your cryptocurrency transactions using the appropriate code on form 8949.
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• Piyush SinghJun 26, 2025 · 8 months ago
  At BYDFi, we understand the importance of accurately reporting cryptocurrency transactions on form 8949. Here are the different codes you need to know: 1. Code A: This code is used for reporting the acquisition or purchase of cryptocurrency. If you buy crypto with cash or another crypto, this is the code you need to use. 2. Code D: This code is used for reporting the sale or disposition of cryptocurrency. If you sell your crypto for cash, goods, or services, this is the code you need to use. 3. Code E: This code is used for reporting the receipt of cryptocurrency as a gift or inheritance. If you receive crypto as a gift or through inheritance, this is the code you need to use. 4. Code F: This code is used for reporting the exchange of cryptocurrency for another cryptocurrency. If you trade one crypto for another, this is the code you need to use. Remember to consult a tax professional for specific advice on reporting your cryptocurrency transactions.
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• Abdo ManMay 28, 2023 · 3 years ago
  When it comes to form 8949 and cryptocurrency trading, there are a few codes you should know. Here they are: 1. Code A: This code is used for reporting the acquisition or purchase of cryptocurrency. If you buy crypto with cash or another crypto, use this code. 2. Code D: This code is used for reporting the sale or disposition of cryptocurrency. If you sell your crypto for cash, goods, or services, use this code. 3. Code E: This code is used for reporting the receipt of cryptocurrency as a gift or inheritance. If you receive crypto as a gift or through inheritance, use this code. 4. Code F: This code is used for reporting the exchange of cryptocurrency for another cryptocurrency. If you trade one crypto for another, use this code. Make sure to accurately report your cryptocurrency transactions using the appropriate code on form 8949.
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• Pritha KawliJul 24, 2025 · 7 months ago
  Here's the lowdown on the different codes you need to know when it comes to form 8949 and cryptocurrency trading: 1. Code A: This code is for reporting the acquisition or purchase of cryptocurrency. If you buy crypto with cash or another crypto, this is the code you need to use. 2. Code D: This code is for reporting the sale or disposition of cryptocurrency. If you sell your crypto for cash, goods, or services, this is the code you need to use. 3. Code E: This code is for reporting the receipt of cryptocurrency as a gift or inheritance. If you receive crypto as a gift or through inheritance, this is the code you need to use. 4. Code F: This code is for reporting the exchange of cryptocurrency for another cryptocurrency. If you trade one crypto for another, this is the code you need to use. Remember, accurate reporting is key when it comes to cryptocurrency transactions and form 8949.
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• KAMS KAMSSep 13, 2020 · 5 years ago
  Alright, let's dive into the different codes on form 8949 that are relevant to cryptocurrency trading: 1. Code A: This code is used for reporting the acquisition or purchase of cryptocurrency. So, if you buy crypto with cash or another crypto, this is the code you need to use. 2. Code D: This code is used for reporting the sale or disposition of cryptocurrency. If you sell your crypto for cash, goods, or services, this is the code you need to use. 3. Code E: This code is used for reporting the receipt of cryptocurrency as a gift or inheritance. If you receive crypto as a gift or through inheritance, this is the code you need to use. 4. Code F: This code is used for reporting the exchange of cryptocurrency for another cryptocurrency. If you trade one crypto for another, this is the code you need to use. Make sure to accurately report your cryptocurrency transactions using the appropriate code on form 8949.
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