What are the necessary forms or steps for reporting cryptocurrency investments during tax filing?

1 answers

• Jan 13, 2022 · 3 years ago
  At BYDFi, we understand the importance of reporting cryptocurrency investments during tax filing. When it comes to the necessary forms and steps, it's crucial to keep detailed records of your cryptocurrency transactions. This includes information such as the date of acquisition, the date of sale, the cost basis, and the proceeds. You'll need to report this information on the appropriate tax forms, such as Form 8949 or Schedule D. It's always a good idea to consult with a tax professional to ensure you're meeting all the necessary reporting requirements and maximizing your tax benefits.
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