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Get your taxes done using TurboTax
ALL crypto sales are reported on the Sch D no matter what the end result is. Same thing if you went thru the FOREX market. This is the law. If the end result was no gain or loss where do you think you are paying income taxes on a zero result ? Think about it... the IRS gets the sales but not the buys ... reporting the sale on the Sch D will give both sides of the transactions. Failure to report the sale will get you an IRS CP2000 in a couple of years asking you to explain why you didn't report the sales on the original return ... so just comply now and save yourself headaches later.
‎July 14, 2022
8:15 AM
1,195 Views