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Business & farm
Investment in Bitcoin is handled the same as any other investment. Sales are reported as Investment Income, with a
sale price (or fair value), date, original cost and date, and
the gain or loss.
Expenses relating to the purchase of Bitcoin would be included in the basis of the asset. Sales expenses would be reported as part of the sale rather than separate business expenses.
The actual sales are entered in TurboTax Home & Business under Personal Income -> Investment Income -> Stocks, Mutual Funds, Bonds Other as "Everything Else." The resulting capital gains/losses are reported on Schedule D.
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May 31, 2019
5:31 PM