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

    archa5
    Level 2
    ‎04-11-2021 07:36 PM

    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. 

     

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    1 Best Answer

    Accepted Solutions
    dascpa
    Level 12
    ‎04-11-2021 08:06 PM

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

    View solution in original post

    5 Comments 5
    dascpa
    Level 12
    ‎04-11-2021 08:06 PM

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

    Just-Lisa-Now-
    Level 15
    Level 15
    ‎04-12-2021 07:37 AM
    They're still investment property, not business property, and reported on Sch D.

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    Terry53029
    Level 15
    Level 15
    ‎04-12-2021 08:48 AM

    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. 

    archa5
    Level 2
    ‎05-16-2021 11:01 PM

    Yes. Investment property

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    archa5
    Level 2
    ‎05-16-2021 11:03 PM

    Yes. It is investment property. Agree.

    0 Cheers






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