https://ttlc.intuit.com/community/taxes/discussion/bitcoin-gift/01/1939740#M697309 <P>I won a very small (under $20) amount of bitcoin in December 2020, I sold it about 2 weeks later.&nbsp; I received a 1099 yesterday. Then I had to upgrade my TurboTax product - which I am not happy about.&nbsp; I am being asked&nbsp; for the amount paid for the Bitcoin.&nbsp; I did not pay for it, so I have no idea what to put in.&nbsp; Can I leave this blank since it was a gift.&nbsp; Also, the amount of proceeds is double what I sold it for.&nbsp; Thanks</P> Wed, 17 Feb 2021 14:47:57 GMT 1967Chats 2021-02-17T14:47:57Z https://ttlc.intuit.com/community/taxes/discussion/bitcoin-gift/01/1939740#M697309 <P>I won a very small (under $20) amount of bitcoin in December 2020, I sold it about 2 weeks later.&nbsp; I received a 1099 yesterday. Then I had to upgrade my TurboTax product - which I am not happy about.&nbsp; I am being asked&nbsp; for the amount paid for the Bitcoin.&nbsp; I did not pay for it, so I have no idea what to put in.&nbsp; Can I leave this blank since it was a gift.&nbsp; Also, the amount of proceeds is double what I sold it for.&nbsp; Thanks</P> Wed, 17 Feb 2021 14:47:57 GMT https://ttlc.intuit.com/community/taxes/discussion/bitcoin-gift/01/1939740#M697309 1967Chats 2021-02-17T14:47:57Z https://ttlc.intuit.com/community/taxes/discussion/re-bitcoin-gift/01/1939797#M697326 <P>Since it was a gift to you, you paid $0 for the bitcoin you received.&nbsp; All of the proceeds you got from selling it will be considered the gain on the sale.&nbsp;&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> Wed, 17 Feb 2021 15:04:05 GMT https://ttlc.intuit.com/community/taxes/discussion/re-bitcoin-gift/01/1939797#M697326 AnnetteB6 2021-02-17T15:04:05Z