bigmac_13
Returning Member

Business & farm

I am using the desktop installed version of TT not the online verson so those instructions are not applicable for the installed version...

 

I understand and stated that I have done the math, so while your answer may help someone else, it doesn't answer my questions.

 

I have a crypto business, not a personal hobby. A hobbyist can't claim hardware expenses and other business expenses that were used 100% for the business purpose.

 

So when I tell TT installed Home/Bus version that I sold business assets it reports it on Form 4797.

As a business this seems correct.

Has a hobbyist, Form 8949 seems correct.

 

To expand my question, is it best to claim the mined cryptocurrency on 4797 and bought cryptocurrency on 8949 or both on 4797? I don't believe all on 8949 is correct as it was received as business income.