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How can i report sales of bitcoin,etherium and litecoins

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How can i report sales of bitcoin,etherium and litecoins

If you want to import the file into TurboTax and have Form 8949, then you will want to use the TurboTax downloaded software. Do note, that the import is limited to the first 500 lines

Follow the steps below to enter your cryptocurrency transactions:
  • Click on the Personal Income Tab
  • Scroll down to the Investment Income and choose Start next to Stocks, Mutual Funds. Bonds, Other
  • Click Yes when asked “Did you sell Any Investments in 2017?”
  • You will then have the option to Import from a TXF file, if you don't have a form then the transactions can be manually entered.

If you would prefer to use TurboTax online, then you will want to enter the summary information from the form and mail in the statement manually. TurboTax walk you through the process to mail the correct forms. 

You can find the instructions for mailing in the FAQ article at this link here as well as information on what can be mailed in instead of Form 8949.

For more information on how to report the cryptocurrency as a capital gain, please see the article here
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