How can I accurately report my cryptocurrency gains and losses on taxact 1099b?

1 answers

• Stilling MilesJun 23, 2024 · a year ago
  When it comes to accurately reporting your cryptocurrency gains and losses on taxact 1099b, it's important to be thorough. Here's what you need to do: 1. Gather all your transaction records, including details of each buy/sell order and trade. 2. Calculate the gains or losses for each transaction by subtracting the cost basis from the fair market value. 3. Fill out Form 8949, providing all the necessary information for each transaction. 4. Transfer the totals from Form 8949 to Schedule D. 5. Attach Schedule D to your tax return. If you're unsure about any step, consult a tax professional for guidance. Best of luck with your reporting!
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