If my crypto purchases and sales were less than $2000 do i need to report?

Forum|Forum|4 years ago
January 23, 2022
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TurboTax Self Employed Online

Best answer by RobertB4444

Yes.

The IRS expects you to report any income, no matter how small. And in the case of your crypto trades they have almost certainly already been reported to the IRS. If they're not on your return you'll get a letter and it will dramatically delay the processing of your return.

RobertB4444Answer

Level 15

Yes.

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dzombiedAuthor

Level 2

none of my crypto trade tax info is available yet, how do they expect us to file without this info?

AamilD

Level 9

Lot of brokerages are in process of completing the tax reports and the tax reporting information would be available shortly. If the information is not available yet, you will have to wait till those reports are available since you are required to input that information on your tax return.