I'm trying to report my crypto sales. I bought on multiple days, sold on one day. How to put "Various" in "Date of purchase"? The field allow only Date format.

[anonymous8]

All of the purchases and one sell were done within last layer. So it's a short-term loss. If I leave "Date of purchase" empty it's treated as a "long term loss" - which is not true. So I must put something there...

[CassLO]

Please see the TurboTax FAQ's below for instructions on how to report cryptocurrency:

How do I report Bitcoin or other cryptocurrency as a capital gain?

How is cryptocurrency like Bitcoin taxed?

[anonymous8]

@CassLO  I'm sorry, but where exactly in these links you see an answer to my question? Neither in the video, nor in the article I couldn't find any information what should I do in my situation?

Again I purchased crypto on multiple days (different days) and sold everything on one day in one transaction. But in the form, there is only 1 "Purchase Date" per transaction. 

[DeanM15]

You have a choice on how to enter your Cryptocurrency transactions. 

You can enter each transaction as a separate entry. So if you had 10 separate purchases and one sale, you would have 10 entries, one for each of the sales of the separately purchased crypto. 

If you prefer to enter one transaction (you said they were all short term) you can enter that in the Cryptocurrency section as well. You will need to calculate the basis of your crypto over the 10 purchases. For the purchase date, I would choose the earliest date and use that one. Unfortunately, you can not enter " Various " in the crypto section. 

[anonymous8]

@DeanM15 Thank you. That makes sense. Just to be 100% sure I understood you. Here's the example:

On day 1 I bought 1BTC

On day 2 I bought 2BTC

On day 3 I bought 3BTC

On day 4 I sold 4BTC

On day 5 I sold 2BTC

Can I insert 4 rows, like that:

Transaction 1: 1BTC Bought on day 1, sold on day 4

Transaction 2: 2BTC Bought on day 2, sold on day 4

Transaction 3: 1BTC Bought on day 3, sold on day 4

Transaction 4: 2BTC Bought on day 3, sold on day 5

Is that correct?

[AnnetteB6]

Yes, your example looks correct for the scenario you described.

@anonymous8