Folks has anyone filed their taxes yet for cryptocurrency gains/loss for 2018? I was going to go use TurboTax and they are charging 60$ extra for crypto and plus the forms are not ready. I already wasted 30$ on bitcoin tax to get all transactions imported for different wallets. So any advise here? Ps I had a loss of 15k Tc150k
Don’t pay taxes if you has a loss
If you has a loss? There is a reason why your name is janitr :)
Disculpe mi ingles senor
When I filed 2017 taxes and claimed my bitcoin cash (sold as soon as it was available on coinbase) it was not a special form. It was treated as short term gain for the entire amount. I don’t see why bitcoin transactions would be treated any different than any other investment loss/gain. It’s probably a TurboTax thing. I had a CPA do my taxes.
Thanks
Your loss is not an investment and you do not get to write any of it off since crypto is "property" it is no different than trying to write of a loss on a used car. Don't do it.
Really? We can't write off the crypto loss? But we have to pay tax on the gains??
Correct, that's how property works. Buy a house and sell it at a gain you pay tax; lose money and you don't get a write off.
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Your TC is $150 and you’re worried about $30? 😂Have one less a avocado toast and boba drink this week and you’ll make up for the “wasted” $30.
Question is not of 150k salary and cribbing for 50$ If you read it carefully which I am sure Citibank employees rarely do and that’s why I closed my Citibank cc within 1 year of opening.. I am asking about whether anyone used TurboTax and finds it useful. Crypto Forms are not ready plus will TurboTax able to import all transactions or will it be a waste of 50$
Yeah I feel ya. I switched to Lyft because of the racists/sexists culture that continues to marinate in your devolving organization.