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Level 3
April 12, 2021
Solved

Gain on coins (crypto) held for more than one year

  • April 12, 2021
  • 5 replies
  • 24 views

Should we use the form 4797 now to show sale of crypto held for more than a year?
It is classified as property not securities nowadays. 

 

This topic has been closed for replies.
Best answer by dascpa

Form 8949 flowing to Schedule D. It is treated the same as any other non-business capital asset.

5 replies

dascpa
dascpaAnswer
Level 11
April 12, 2021

Form 8949 flowing to Schedule D. It is treated the same as any other non-business capital asset.

Just-Lisa-Now-
Intuit Community Champion
April 12, 2021
They're still investment property, not business property, and reported on Sch D.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
archa5Author
Level 3
May 17, 2021

Yes. Investment property

Intuit Community Champion
April 12, 2021

The IRS classified Bit Coin "property" a few years ago treating it the same as other assets such as, stocks and bonds, and it receives the same treatment.