What are the important details to include on Form 8949 when reporting cryptocurrency gains or losses?

1 answers

• hunar mohammedFeb 13, 2024 · 2 years ago
  Form 8949 is the document you'll need to report your cryptocurrency gains or losses. It's important to include specific details such as the dates of acquisition and sale, a description of the cryptocurrency, the cost basis at the time of acquisition, the proceeds from the sale, any adjustments to the cost basis, and whether the transaction resulted in a gain or loss. Remember to provide accurate and complete information to avoid any potential issues with the IRS. If you have any doubts or need assistance, consult a tax professional or accountant who specializes in cryptocurrency taxation.
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