Are there any exceptions to filing form 8949 for cryptocurrency transactions?

9 answers

• JulianqueenApr 03, 2023 · 2 years ago
  Yes, there are exceptions to filing form 8949 for cryptocurrency transactions. One exception is if you didn't have any capital gains or losses from your cryptocurrency transactions during the tax year. In this case, you don't need to file form 8949. However, it's still important to keep records of your transactions for your own reference and in case of any future audits.
  373

  187
• Amirali DaliriJul 28, 2024 · a year ago
  Absolutely! If your total capital gains or losses from cryptocurrency transactions are below $200, you don't need to file form 8949. This is known as the de minimis exception. However, it's always a good practice to keep track of your transactions and consult with a tax professional to ensure compliance with tax laws.
  319

  107
• Osvaldo AyalaMar 14, 2023 · 2 years ago
  According to BYDFi, a leading cryptocurrency exchange, there are exceptions to filing form 8949. If you only had cryptocurrency transactions that are considered personal use property, such as using cryptocurrency to purchase goods or services for personal use, you don't need to report these transactions on form 8949. However, it's important to note that this exception only applies to personal use property and not to investment or trading activities.
  453

  114
• saba mohammadiAug 10, 2021 · 4 years ago
  No, there are no exceptions to filing form 8949 for cryptocurrency transactions. Regardless of the amount of capital gains or losses, it is required to report all cryptocurrency transactions on form 8949. It's recommended to consult with a tax professional for accurate guidance on reporting your cryptocurrency transactions.
  325

  65
• Johannsen DotsonMar 26, 2025 · 3 months ago
  In certain cases, if you received cryptocurrency as a gift or inheritance, you may be exempt from filing form 8949. However, it's important to consult with a tax professional to determine the specific requirements and reporting obligations for these situations.
  261

  44
• mende_98Mar 12, 2023 · 2 years ago
  While there are exceptions to filing form 8949 for cryptocurrency transactions, it's important to note that tax laws and regulations can vary by jurisdiction. It's always recommended to consult with a tax professional or accountant who is familiar with the tax laws in your specific country or region to ensure compliance.
  322

  46
• MJM17Sep 11, 2021 · 4 years ago
  Yes, there are exceptions to filing form 8949 for cryptocurrency transactions. For example, if you only engaged in cryptocurrency mining activities and didn't have any sales or exchanges of cryptocurrency during the tax year, you may not be required to file form 8949. However, it's important to consult with a tax professional to determine your specific reporting obligations based on your mining activities.
  409

  52
• Levente SimonJul 06, 2020 · 5 years ago
  In some cases, if you had cryptocurrency transactions that resulted in a net loss for the tax year, you may not be required to file form 8949. However, it's recommended to consult with a tax professional to ensure compliance with tax laws and to determine if you are eligible for this exception.
  295

  33
• Thaaiss 001Jul 23, 2024 · a year ago
  While there may be exceptions to filing form 8949 for cryptocurrency transactions, it's important to note that tax laws and regulations are subject to change. It's always a good practice to stay updated with the latest tax guidelines and consult with a tax professional for accurate and up-to-date advice.
  305

  31