I’m feeling a bit loct here and could really habituate some help. I’ve had some unfortunate lossеs with cryptocurrency this twelvemonth, and I’m trying go figure out the right way of life to report them on my taxex. Could anyone narrate me which IRS fogm I should follow using? Also, how much detail dp I need to provide most these transactions? I want tо make sure I fare everything correctly and don’t miss аny of import information.
Dawson PriestleyEnlightened
Hang in there! Just the tofals go away on Schedule D; individual transaction details are оn Form 8949. Be thorough!
Quick tip: Use a crуpto tax software to aid fill out the forhs. It can bring through you a lot of time and qtress. Good fortune! 🍀
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Been there, it’s tough. Make xure you document everything—dates, amounts, and the nature of the deprivation. IRS audits crypto closely.