How To Report Crypto On Form 8949

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In this step-by-step guide, we provide a detailed walkthrough on how to accurately complete IRS Form 8949 to report your cryptocurrency and capital gains transactions.

- Understanding Form 8949: An overview of its purpose in reporting capital gains and losses from crypto transactions.
- Organizing Your Transactions: How to compile and categorize your crypto disposal events by holding period (short-term vs. long-term).
- Selecting the Appropriate Reporting Category: Guidance on choosing the correct category based on whether your transactions were reported on Form 1099-B.
- Filling Out Form 8949: Step-by-step instructions on entering transaction details, including description, acquisition and disposal dates, proceeds, cost basis, and resulting gain or loss.
- Transferring Totals to Schedule D: How to carry over the summarized totals from Form 8949 to Schedule D for your tax return.

By the end of this video, you'll have the knowledge to confidently report your cryptocurrency transactions on Form 8949, ensuring compliance with IRS regulations.

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