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Level 1
posted Feb 11, 2022 7:31:53 AM

Can i import investment transactions from TDAmeritrade, Coinbase, etc as business income? (I can import it as personal income but i want it to count as business income).

In TT, when working on business income, there doesn't seem to be any way of importing these transactions directly from the broker.

0 1 238
1 Replies
Level 15
Feb 11, 2022 2:01:45 PM

even as a trader without a valid mark-to-mark election, security transactions get reported on schedule D/8949 not schedule C. (this will save you SE taxes). however, you are subject to the wash sale rules. as a trader your business expenses would go on schedule C

 

if you do have a valid mark-to-mark election the security transactions get reported in part II of form 4797. trading expenses still go on schedule C.

 

if you are an investor the security transactions get reported on Schedule D/8949 and your investment expenses are not deductible.

 

 

 there is no way to import security transactions into schedule C.