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Brown Cafe UPS Forum
UPS Retirement Topics
Bitcoin/Ethereum/cryptocurrencies
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 5133864" data-attributes="member: 12570"><p>[URL unfurl="true"]https://www.cnbc.com/2021/12/15/the-irs-wants-to-know-about-crypto-bitcoin-ethereum-dogecoin-transactions-this-tax-season.html[/URL]</p><p></p><p>Crypto transactions are entered the same as stock transactions----you need to have the purchase date and price paid (basis) and the sale date and proceeds, with tax due on the difference between the proceeds less the basis. I recall one of my co-workers at Block having to deal with some 30 pages of crypto transactions for one client-----each transaction had to be entered separately.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 5133864, member: 12570"] [URL unfurl="true"]https://www.cnbc.com/2021/12/15/the-irs-wants-to-know-about-crypto-bitcoin-ethereum-dogecoin-transactions-this-tax-season.html[/URL] Crypto transactions are entered the same as stock transactions----you need to have the purchase date and price paid (basis) and the sale date and proceeds, with tax due on the difference between the proceeds less the basis. I recall one of my co-workers at Block having to deal with some 30 pages of crypto transactions for one client-----each transaction had to be entered separately. [/QUOTE]
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