Which form should Tamara fill out to report the income she made from selling crypto in 2024?

3 answers

• Nov 26, 2021 · 3 years ago
  To report the income she made from selling crypto in 2024, Tamara should fill out Form 8949 and Schedule D. These forms are used to report capital gains and losses from the sale of assets, including cryptocurrency. On Form 8949, Tamara will need to provide details of each cryptocurrency transaction, including the date of acquisition, date of sale, cost basis, and proceeds. The total capital gains or losses from all transactions will then be transferred to Schedule D. It's important for Tamara to accurately report her cryptocurrency income to avoid any potential penalties or audits from the IRS.
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• Nov 26, 2021 · 3 years ago
  Tamara, you'll need to fill out Form 8949 and Schedule D to report the income you made from selling crypto in 2024. These forms are specifically designed for reporting capital gains and losses from the sale of assets, including cryptocurrency. On Form 8949, you'll need to provide detailed information about each transaction, such as the date of acquisition, date of sale, cost basis, and proceeds. Make sure to accurately calculate your gains or losses and transfer them to Schedule D. Remember, it's important to report your cryptocurrency income correctly to comply with tax regulations and avoid any potential issues with the IRS.
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• Nov 26, 2021 · 3 years ago
  When it comes to reporting cryptocurrency income from selling crypto in 2024, Tamara should fill out Form 8949 and Schedule D. These forms are commonly used to report capital gains and losses from the sale of various assets, including cryptocurrency. Form 8949 requires Tamara to provide detailed information about each transaction, such as the date of acquisition, date of sale, cost basis, and proceeds. The total gains or losses from all transactions should then be transferred to Schedule D. Remember, it's crucial to accurately report your cryptocurrency income to ensure compliance with tax laws and regulations.
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