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Level 1

Solved

I am attempting to enter the sale of bitcoin due to bankruptcy proceeding of the bitcoin exchange on form 8949 and not seeing how to do this via TT online.

Forum|Forum|4 months ago
January 16, 2026
1 reply
0 views

Mt. Box bitcoin exchange went bankrupt 10+ years ago...I've received a payout for my bitcoin held in that exchange and wonderng how to declare this via form 8949.

TurboTax Online

Best answer by MarilynG

Expert Reviewed

To report a cryptocurrency payout from a bankrupt exchange in TurboTax, treat the final payout or total loss as a capital asset sale.

In the Wages & Income Section under Investments, use the interview and choose Digital Assets. If you didn't receive a 1099-DA, indicate that and then enter the info on your Cost and Proceeds on the next screen.

TurboTax creates a Capital Asset Sales Worksheet and transfers the info to Form 8949, Part II.

Here's more info on Crypto Platform Bankruptcy.

Level 15

Expert Reviewed

To report a cryptocurrency payout from a bankrupt exchange in TurboTax, treat the final payout or total loss as a capital asset sale.

In the Wages & Income Section under Investments, use the interview and choose Digital Assets. If you didn't receive a 1099-DA, indicate that and then enter the info on your Cost and Proceeds on the next screen.

TurboTax creates a Capital Asset Sales Worksheet and transfers the info to Form 8949, Part II.

Here's more info on Crypto Platform Bankruptcy.

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