How can I accurately fill out Form 8949 for my cryptocurrency trades?

1 answers

• Mar 22, 2022 · 3 years ago
  At BYDFi, we understand the importance of accurately filling out Form 8949 for your cryptocurrency trades. Here's a step-by-step guide to help you: 1. Gather all your trade records, including the date, type of cryptocurrency, purchase price, and sale price. 2. Calculate the gain or loss for each trade by subtracting the purchase price from the sale price. 3. Fill out Form 8949, providing the necessary details for each trade. 4. Summarize the totals on Schedule D of your tax return. Remember, it's crucial to accurately report your cryptocurrency trades to comply with tax regulations. If you have any further questions, feel free to reach out to our team at BYDFi. Best of luck with your taxes!
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