DRagan
Level 1

Can worthless bitcoins be written off? What forms would I use? Thank you

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abctax55
Level 15

8949 >>  D... but don't forget about Sch 1

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
rbynaker
Level 13

When did Bitcoin become worthless?  Isn't it trading around $9K?

Just-Lisa-Now-
Level 15
Level 15

I asked one of my clients if he had invested in cryptocurrency, bitcoins etc and he told me

"My friend gave me 1 dollar in bitcoin so I could see how it works, but I don't know anything about it or how to get any money from it...I don't have any paperwork about it....do you know how it works?"

I just checked the YES box to the Sch 1 question and moved on.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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George4Tacks
Level 15

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!

 


Here's wishing you many Happy Returns
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