Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Products
  • Workflow Tools
  • Learn & Support
  • Sign In
  • Products
  • Workflow Tools
  • Contact Us
  • Sign In
  • Learn & Support
    • cancel
    Turn on suggestions
    Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
    Showing results for 
    Search instead for 
    Did you mean: 

    Gain on coins (crypto) held for more than one year

    archa5
    Level 2
    ‎04-11-2021 07:36 PM

    Should we use the form 4797 now to show sale of crypto held for more than a year?
    It is classified as property not securities nowadays. 

     

    0 Cheers

    This discussion has been locked. No new contributions can be made. You may start a new discussion here

    1 Solution

    Accepted Solutions
    dascpa
    Level 11
    ‎04-11-2021 08:06 PM

    Form 8949 flowing to Schedule D. It is treated the same as any other non-business capital asset.

    View solution in original post

    5 Comments 5
    dascpa
    Level 11
    ‎04-11-2021 08:06 PM

    Form 8949 flowing to Schedule D. It is treated the same as any other non-business capital asset.

    Just-Lisa-Now-
    Level 15
    Level 15
    ‎04-12-2021 07:37 AM
    They're still investment property, not business property, and reported on Sch D.

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    Terry53029
    Level 14
    Level 14
    ‎04-12-2021 08:48 AM

    The IRS classified Bit Coin "property" a few years ago treating it the same as other assets such as, stocks and bonds, and it receives the same treatment. 

    archa5
    Level 2
    ‎05-16-2021 11:01 PM

    Yes. Investment property

    0 Cheers
    archa5
    Level 2
    ‎05-16-2021 11:03 PM

    Yes. It is investment property. Agree.

    0 Cheers
    Intuit Lacerte Tax
    Intuit ProConnect Tax
    Intuit ProSeries Tax
    Additional Accounting Solutions
    Tax Pro Center
    Tax Practice Resources
    Call sales: 844-877-9422
    Sitemap

    ©1997-2024 Intuit, Inc. All rights reserved.

    Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

    By accessing and using this page you agree to the Terms and Conditions.

    About Cookies | Manage Cookies
    Legal Privacy Security