turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

arowe9502
New Member

Hello I need tax advice from selling Bitcoins for cash via Cash App/Coinbase. What is the exceed amount to be issued a tax document?

Like example I bought $500 worth of Bitcoin from Cash App and then sold $4500 worth of Bitcoin for cash.
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
rjs
Level 15
Level 15

Hello I need tax advice from selling Bitcoins for cash via Cash App/Coinbase. What is the exceed amount to be issued a tax document?

It doesn't matter whether you got a "tax document" or not. You have to report the sale on your tax return. Many virtual currency exchanges do not issue tax documents at all, regardless of the amount. But you still have to report the sale. You enter it in TurboTax as an investment sale that was not reported on Form 1099-B.

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies