What are the common form 8949 adjustment codes for cryptocurrency transactions?
Tang CarrollApr 30, 2022 · 3 years ago1 answers
Can you provide a list of the most common form 8949 adjustment codes that are used for reporting cryptocurrency transactions? I want to make sure I am properly reporting my cryptocurrency gains and losses on my tax return.
1 answers
- Apr 30, 2022 · 3 years agoAh, the common form 8949 adjustment codes for cryptocurrency transactions. Let me break it down for you: - Code A: Short-term gain or loss - Code B: Long-term gain or loss - Code C: Short-term gain or loss with cost basis not reported to the IRS - Code D: Long-term gain or loss with cost basis not reported to the IRS - Code E: Short-term gain or loss with cost basis reported to the IRS - Code F: Long-term gain or loss with cost basis reported to the IRS Remember, it's crucial to accurately report your cryptocurrency transactions on form 8949 to avoid any potential issues with the IRS. If you have any further questions, feel free to ask!
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