KathrynG3
Expert Alumni

Get your taxes done using TurboTax

The wash sale rules for cryptocurrency should be the same as other types of transactions.

Transactions for a loss or sorted as either long term or short term. Long term is for transactions held longer than one year whereas short term is for transactions held one year or less.

 

If the losses are realized, they would be valid. Transactions are realized when they are sold. 

 

To report wash sales in TurboTax Online, click the box for I have more info to enter that I don't see here. to include any wash sales reported.

 

If you are mining cryptocurrency, then the transactions should be reported similarly to day trading, which would be reported as self-employment on Schedule C.

 

For more details about cryptocurrency, see:

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

I’m mining Bitcoin, what does that mean for my taxes?