Are there any specific guidelines or tips for filling out Form 8949 for crypto transactions?

3 answers

• JojoDiazFeb 09, 2025 · 6 months ago
  Sure! When filling out Form 8949 for crypto transactions, it's important to accurately report each transaction. Make sure to include the date of the transaction, the type of cryptocurrency involved, the amount bought or sold, and the cost basis. If you're unsure about the cost basis, consult your records or a tax professional. Additionally, keep in mind that the IRS considers each crypto-to-crypto trade as a taxable event, so be sure to report all transactions.
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• Hadil HantourFeb 16, 2021 · 4 years ago
  Filling out Form 8949 for crypto transactions can be a bit tricky, but here are some tips to help you out. First, make sure you have all the necessary information handy, including the date, type of cryptocurrency, and the amount bought or sold. Second, calculate the cost basis accurately to avoid any discrepancies. Third, remember to report all your transactions, including crypto-to-crypto trades. Lastly, if you're unsure about any aspect of the form, it's always best to consult a tax professional.
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• Mohammad Din Nur IkhsaniJul 23, 2024 · a year ago
  As an expert at BYDFi, I can tell you that filling out Form 8949 for crypto transactions requires attention to detail. Start by gathering all the relevant information, such as the date, type of cryptocurrency, and the amount involved. Then, accurately calculate the cost basis for each transaction. Remember to report all your transactions, including crypto-to-crypto trades. If you have any doubts, consult a tax professional to ensure compliance with IRS guidelines.
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