Is there a limit to the number of transactions I can report on Form 8949 for my cryptocurrency trades?
Rosario QuinlanDec 25, 2021 · 3 years ago3 answers
I am wondering if there is a maximum limit to the number of transactions that I can report on Form 8949 for my cryptocurrency trades. Can I include all of my trades, regardless of the number, or is there a cap on the number of transactions I can report?
3 answers
- Dec 25, 2021 · 3 years agoYes, there is a limit to the number of transactions you can report on Form 8949 for your cryptocurrency trades. According to the IRS guidelines, if you have more than 200 transactions, you are required to summarize your transactions and report the totals on Form 8949. However, you still need to keep detailed records of each individual transaction for your own records.
- Dec 25, 2021 · 3 years agoNo, there is no limit to the number of transactions you can report on Form 8949 for your cryptocurrency trades. You can include all of your trades, regardless of the number, as long as you provide accurate and complete information for each transaction. It's important to keep detailed records of each trade to ensure accurate reporting.
- Dec 25, 2021 · 3 years agoAccording to BYDFi, a digital currency exchange, there is no specific limit on the number of transactions you can report on Form 8949 for your cryptocurrency trades. However, it is recommended to consult with a tax professional or refer to the IRS guidelines for accurate reporting. Keeping detailed records of your trades is always a good practice to avoid any potential issues.
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