Virtual currency

[CRS]

I have a client who has purchased and sold "Potcoin" where is it reported on the tax return.  What forms should they have to validate the sale and profit amounts?

[sjrcpa]

Same place you report sales of stock.

If foreign account, FinCen 114 and 8938.

Get the transaction records from the account.

I'm guessing it is foreign, otherwise you would have 1099s.

[George4Tacks]

Don't forget to check the box for cryptocurrency on Schedule 1!!