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QUESTION

What tax forms do I need to fill out for Crypto.com transactions?

ANSWER

110

When it comes to reporting transactions from Crypto.com or any other cryptocurrency platform, individuals in the United States must typically fill out IRS Form 8949, "Sales and Other Dispositions of Capital Assets," to detail each cryptocurrency transaction. This includes sales, trades, and other dispositions of capital assets. The information from Form 8949 is then summarized on Schedule D, "Capital Gains and Losses," which is attached to the taxpayer's Form 1040, "U.S. Individual Income Tax Return." Additionally, if any interest is earned through crypto assets or if there are any other taxable events according to the tax guidelines, those should also be reported accordingly. It should be noted that one needs to retain detailed records of all cryptocurrency transactions to accurately report gains and losses and comply with IRS regulations.


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03.21.2024
CRYPTO COM TAX FORMS
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