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Level 4
posted May 1, 2021 3:23:01 AM

Entering Cryptocurrency as TT suggests will lead to double reporting

I am using a software to generate my 8949 which I will attach as a pdf file to my return.

 

I have already entered my crypto trade info into this software and the 8949 it generated for me already includes all appropriate information. I am also aware of how I need to include the correct information in sales sections totals.

 

However TT has a separate section for importing cryptocurrencies under

Federal>Wages and Income>Investment income>Cryptocurrency

 

So I believe I should leave this part untouched otherwise I would be entering the information twice, possibly messing up my tax return as well as my refund amount.

 

I should note that I have no earnings in cryptocurrencies

 

Am I correct?

0 1 97
1 Replies
Level 15
May 1, 2021 9:03:28 AM

Correct ... do not enter in or import anything twice.