OK, in 2020 I started minimally dabbling in Crypto. So, I had a crypto exchange and a crypto wallet. BTC would go into my wallet from my
exchange at varying times and leave my wallet, turning into dollars.
Anyway, I now have a gains/loss spreadsheet. There are 16 transactions.
It appears I have to treat it as a sale of assets.
Anyway, here's the easy question:
Instead of inputting 16 separate transactions, can I just put in one
figure for costs/proceeds (sum of the 16 components for each)? They are Y
all ST.
BTW, my gain is a whopping $101.
Mel
On 2/13/2022 4:39 PM, MZB wrote:
OK, in 2020 I started minimally dabbling in Crypto. So, I had a crypto exchange and a crypto wallet. BTC would go into my wallet from my
exchange at varying times and leave my wallet, turning into dollars.
Anyway, I now have a gains/loss spreadsheet. There are 16 transactions.
It appears I have to treat it as a sale of assets.
Anyway, here's the easy question:
Instead of inputting 16 separate transactions, can I just put in one
figure for costs/proceeds (sum of the 16 components for each)? They are Y all ST.
BTW, my gain is a whopping $101.
Mel
ANYBODY??
MEL
--
On Wednesday, February 16, 2022 at 1:38:05 PM UTC-5, MZB wrote:
On 2/13/2022 4:39 PM, MZB wrote:
OK, in 2020 I started minimally dabbling in Crypto. So, I had a cryptoANYBODY??
exchange and a crypto wallet. BTC would go into my wallet from my
exchange at varying times and leave my wallet, turning into dollars.
Anyway, I now have a gains/loss spreadsheet. There are 16 transactions.
It appears I have to treat it as a sale of assets.
Anyway, here's the easy question:
Instead of inputting 16 separate transactions, can I just put in one
figure for costs/proceeds (sum of the 16 components for each)? They are Y >>> all ST.
BTW, my gain is a whopping $101.
Mel
MEL
--
Each sale has to be reported separately. If you have the information formatted the same as the Form 8949, you can attach a pdf to your return.
Ira Smilovitz, EA
Leonia, NJ
On 2/16/2022 2:52 PM, ira smilovitz wrote:
On Wednesday, February 16, 2022 at 1:38:05 PM UTC-5, MZB wrote:
On 2/13/2022 4:39 PM, MZB wrote:
OK, in 2020 I started minimally dabbling in Crypto. So, I had a crypto >>> exchange and a crypto wallet. BTC would go into my wallet from myANYBODY??
exchange at varying times and leave my wallet, turning into dollars.
Anyway, I now have a gains/loss spreadsheet. There are 16 transactions. >>>
It appears I have to treat it as a sale of assets.
Anyway, here's the easy question:
Instead of inputting 16 separate transactions, can I just put in one
figure for costs/proceeds (sum of the 16 components for each)? They are Y >>> all ST.
BTW, my gain is a whopping $101.
Mel
MEL
--
Each sale has to be reported separately. If you have the information formatted the same as the Form 8949, you can attach a pdf to your return.
Ira Smilovitz, EA
Leonia, NJ
Ira, thank you for having the patience to answer my (and others)
questions. But next time, can you tell me what I want to hear.
Mel
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