Cynthiad66
Expert Alumni

Get your taxes done using TurboTax

Yes.  Each sale of crypto during the tax year is reported on the 8949. If you had other non-crypto investments, they need to be reported on separate Form 8949s when you file your taxes.

 

Once you get to your Wages & Income screen, click Start next to Cryptocurrency. If you didn’t already select that you sold or traded cryptocurrency, add it by clicking “Add more income” on this screen and selecting cryptocurrency.

 

Cryptocurrencies like bitcoin are treated as “property” per IRS rules (IRS Notice 2014-21). When you trade cryptocurrency for a profit, you end up having to pay taxes on the resulting capital gains.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"