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Common questions about the Schedule D and Form 8949 in ProSeries

SOLVEDby IntuitProSeries Basic7Updated March 22, 2022

Starting in tax year 2020 the Schedule D itself will be populated from a new Form 1099-B worksheet. This worksheet is for any transaction other then home sales that would typically be entered on a Schedule D. The QuickZoom to the 1099-B worksheet can be found at the top of Schedule D.

In most cases cryptocurrency or virtual currency is reported on the tax return in the same manner as property such as stock or other capital gains or losses. See Frequently Asked Questions on Virtual Currency Transactions for the IRS guidelines. If you are reporting virtual currency transactions in the 1040 return, be sure to mark the Yes box on the "At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency" question.

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