Bitcoins

[DRagan]

Can worthless bitcoins be written off? What forms would I use? Thank you

[abctax55]

8949 >>  D... but don't forget about Sch 1

[rbynaker]

When did Bitcoin become worthless?  Isn't it trading around $9K?

[Just-Lisa-Now-]

I asked one of my clients if he had invested in cryptocurrency, bitcoins etc and he told me

"My friend gave me 1 dollar in bitcoin so I could see how it works, but I don't know anything about it or how to get any money from it...I don't have any paperwork about it....do you know how it works?"

I just checked the YES box to the Sch 1 question and moved on.

[George4Tacks]

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!