How can I report my cash app 1099 b for cryptocurrency transactions?

1 answers

• May 12, 2022 · 3 years ago
  When you receive a 1099-B form from your cash app for cryptocurrency transactions, it's important to report it on your tax return. You'll need to fill out Form 8949 and Schedule D. On Form 8949, provide the necessary details for each transaction, such as the date of acquisition, date of sale, cost basis, and proceeds. The total gains or losses from all transactions will be transferred to Schedule D, where your overall capital gains or losses will be calculated. Remember to maintain accurate records of your cryptocurrency transactions for proper reporting.
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