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Go to Office Setup site Office.com/setup.
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How do I enter cryptocurrency in TurboTax Online? -
Turbotax support- Cryptocurrency is considered a property by the IRS and every move (spending, exchanging, selling, income if paid to you for services, etc), within the tax year is a recordable transaction. Cryptocurrency held for investment has a gain / loss. Cryptocurrency for personal property is only gains, no losses (so for purchases of goods and services, there is only gains, no losses as they are personal). If paid for you for personal services, it is considered a reportable income at the spot rate on the date of receipt. It can be considered a business, hobby, investment, or personal income property depending on your intentions to make a profit to consider it a business. If received as payment for services it is subject to self employment income taxes and you must report the income as if you received a 1099Misc.
To reports gains / losses allowed (NOT FOR MINERS, miners report as self-employed on schedule C using Turbotax support or as hobby income (hobby is as if you are not in the business of making money, and doing it on the side, normally area if you don't plan on being profitable for at least 3/5 years)

Started by smithmachinist at January 05, 2020 - 11:16 PM