This is my first year filing taxes, so I’m still a newbie to all of this. I already filed my federal income tax return via TurboTax but I’m a little worried because I had no idea cryptocurrency was taxable and didn’t report my investments before the deadline.
So my question is, is it too late to report taxes for cryptocurrency??
I bought, traded, and sold cryptocurrency in the year 2018. I used TokenTax to calculate my transactions. I had a total of 900 of them. My estimated tax liability was negative $360 (so I guess I don’t owe money).
If it’s too late, does that mean the IRS is going to send me to jail?
If not, how do I transfer my tax form 8949 into TurboTax? The limited amount of transactions they’re accepting online is 250, so how do I add my form 8949 into my federal tax return?
