topic Crypto Currency Taxable Income in Get your taxes done using TurboTax

Crypto Currency Taxable Income

Skipper6 — Wed, 11 Feb 2026 03:42:14 GMT

I have invested in Crypto Currency. When I sell Crypto Currency, I receive thousands in profit. I have not received a 1099 from my investor because they are a global company they do not send you a 1099. How can I file my taxes on something I do not have? How do you declare my investment amount separately from my profits? Are you taking my word that it is correct? What percent of the profits are taxable? Is there a rate guide to follow for cryptocurrency capital gains?

Re: Crypto Currency Taxable Income

fanfare — Tue, 13 Feb 2024 14:17:01 GMT

If you are not excused by the detail reporting exception,
IRS requires details of your SELL transactions to be supplied on some Form 8949,
or on your other forms (e.g. consolidated 1099-B or spreadsheet) which have the same information and in the same manner as Form 8949.

If you don't have a 1099-B because none was issued, report details on Page 1 with Box C checked or on Page 2 with Box F checked.

There is no exception for those Boxes.

Re: Crypto Currency Taxable Income

fanfare — Tue, 13 Feb 2024 00:10:24 GMT

IRS considers crypto an asset subject to the same rates as other investments such as stocks, bonds,