How to calculate capital gains and losses for cryptocurrency on Form 8949 and Schedule D?

1 answers

• Nov 23, 2021 · 3 years ago
  At BYDFi, we understand the importance of accurately calculating capital gains and losses for cryptocurrency on Form 8949 and Schedule D. It's crucial to keep track of all your cryptocurrency transactions and report them correctly to comply with tax regulations. When filling out Form 8949, make sure to provide all the required information for each transaction, including the date acquired, date sold, cost basis, and proceeds. Additionally, be aware of any specific instructions or guidelines provided by the IRS. If you're unsure about how to calculate your capital gains and losses or have any other tax-related questions, it's always a good idea to consult with a tax professional who specializes in cryptocurrency taxation.
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