Crypto g/l and TT deluxe desktop problem

[compiler]

I use TT Deluxe desktop. I've never had problems with capital gains/losses as I can always import the 1099 from my brokerage firm.

However, I also did some BTC purchases/sales via PayPal.
They just sent me a statement for my taxes (small loss).

I cannot import from PayPal. I do have a .csv file but again I cannot import such a file into TT Deluxe.

There is no investment feature in TT DELUXE.

I found another way: I created a new 1099-B and labeled it PayPal. I then could get one proceeds figure and one cost figure from the data. I can enter it in the area that goes directly to Sched. D. (IT's 5 transactions-- just added the total costs and total proceeds).

Seems to work.

Although the PayPal statement is not labeled 1099-B, it has the same information. But it seems to work (my taxable income gets reduced by the small amount of this short-term loss.

Should this suffice? I assume Premiere would work better but the small cost to upgrade to claim a small loss seems not worthwhile

Mel

[KrisD15]

For clarification:

Do you trade? Only Buy and Sell or also use to make personal purchases? 

[compiler]

Buy/Sell at different times. 

It ended up a small ST loss.

If it gets to be too much of a hassle, I might just not bother to report it and give up the measly gain I'd get.

Mel

[AmyC]

Ok, so with no personal purchases like food, bills, etc, you can simply type in 2 transactions, one total long term, one total short term and be done. With the online version you can upload your own csv. However, if you know the end results, it is a lot easier to type in short and long term,