Cryptocurrency taxes for under $10?

[RolaSakuraba]

So everyone has been into doge and I tried putting $10 into upstart and then thought it was a scam so I requested it the same day to be taken out. They argued with me on it and delayed it but it ended up coming back as $16 so $6 more. There are no tax forms on upstart. It’s $6 do I really need to add that? Aside from that my tax return is just a w2….

[Rainman12]

Yes, you have to report the gain; every dollar counts. IRS is actively monitoring cryptocurrency trades, and brokers are eagerly providing customer names. Skip reporting, expect an IRS letter ...

[RolaSakuraba]

So I put into TurboTax I did crypto and they didn’t even ask how much so how would I even enter it? There’s no stupid form how would I even make sure they know it’s from uphold

also it’s ridiculous to track $6 when I tried to pull it out at the original $10

[GeorgeM777]

@RolaSakuraba, it appears that you have tried to manually enter your one crypto transaction.  Here are the steps to follow to enter your crypto trade.  Step 5 is where you will select the option to manually enter your information.  

1. Sign in to TurboTax, and open or continue your return
2. In the Wages and Income section under Investments and Savings (or Investment Income), select Start or Revisit next to Crypto (1099-B)
3. On the next screen, you may see Did you sell any of these investments in 2021? or Time to kick off your investments!, select either Yes or Okay!
4. On the We can make this faster screen, select Enter a different way, and then select Cryptocurrency on the following screen
   1. If, instead, you’re asked to select an investment type, select Cryptocurrency
   2. You’ll then see the Get ready to be impressed screen. Select Continue, then select Try another way
5. Select Type it in myself on the Select your crypto experience screen 
6. On the Let’s enter your crypto tax info screen, search for your cryptocurrency exchange 
7. On the Did you get a 1099-B screen, answer accordingly
   1. If you didn’t get a 1099-B, skip to step 11
8. Continue answering the interview questions to help us determine the best way to enter your transactions, then select Continue 
9. Depending on your answers, we’ll recommend either entering your sales One by one or as Sales section totals 
10. If you answered yes to getting a 1099-B in step 7, we’ll help you find your sales on your form. Then select Continue
11. Enter your sale information on the next screen, then select Continue
12. Review your sales information. Repeat these steps for any additional transactions.