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Crypto g/l and TT deluxe desktop problem
I use TT Deluxe desktop. I've never had problems with capital gains/losses as I can always import the 1099 from my brokerage firm.
However, I also did some BTC purchases/sales via PayPal.
They just sent me a statement for my taxes (small loss).
I cannot import from PayPal. I do have a .csv file but again I cannot import such a file into TT Deluxe.
There is no investment feature in TT DELUXE.
I found another way: I created a new 1099-B and labeled it PayPal. I then could get one proceeds figure and one cost figure from the data. I can enter it in the area that goes directly to Sched. D. (IT's 5 transactions-- just added the total costs and total proceeds).
Seems to work.
Although the PayPal statement is not labeled 1099-B, it has the same information. But it seems to work (my taxable income gets reduced by the small amount of this short-term loss.
Should this suffice? I assume Premiere would work better but the small cost to upgrade to claim a small loss seems not worthwhile
Mel