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  • one more EASY crypto question I think

    From MZB@21:1/5 to All on Sun Feb 13 16:39:20 2022
    OK, in 2020 I started minimally dabbling in Crypto. So, I had a crypto
    exchange and a crypto wallet. BTC would go into my wallet from my
    exchange at varying times and leave my wallet, turning into dollars.

    Anyway, I now have a gains/loss spreadsheet. There are 16 transactions.

    It appears I have to treat it as a sale of assets.

    Anyway, here's the easy question:

    Instead of inputting 16 separate transactions, can I just put in one
    figure for costs/proceeds (sum of the 16 components for each)? They are
    all ST.

    BTW, my gain is a whopping $101.

    Mel

    --
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    << nor can it used, for the purpose of avoiding penalties >>
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  • From MZB@21:1/5 to MZB on Wed Feb 16 13:37:35 2022
    On 2/13/2022 4:39 PM, MZB wrote:
    OK, in 2020 I started minimally dabbling in Crypto. So, I had a crypto exchange and a crypto wallet. BTC would go into my wallet from my
    exchange at varying times and leave my wallet, turning into dollars.

    Anyway, I now have a gains/loss spreadsheet. There are 16 transactions.

    It appears I have to treat it as a sale of assets.

    Anyway, here's the easy question:

    Instead of inputting 16 separate transactions, can I just put in one
    figure for costs/proceeds (sum of the 16 components for each)? They are Y
    all ST.

    BTW, my gain is a whopping $101.

    Mel


    ANYBODY??

    MEL

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ira smilovitz@21:1/5 to MZB on Wed Feb 16 14:52:00 2022
    On Wednesday, February 16, 2022 at 1:38:05 PM UTC-5, MZB wrote:
    On 2/13/2022 4:39 PM, MZB wrote:
    OK, in 2020 I started minimally dabbling in Crypto. So, I had a crypto exchange and a crypto wallet. BTC would go into my wallet from my
    exchange at varying times and leave my wallet, turning into dollars.

    Anyway, I now have a gains/loss spreadsheet. There are 16 transactions.

    It appears I have to treat it as a sale of assets.

    Anyway, here's the easy question:

    Instead of inputting 16 separate transactions, can I just put in one
    figure for costs/proceeds (sum of the 16 components for each)? They are Y all ST.

    BTW, my gain is a whopping $101.

    Mel

    ANYBODY??

    MEL
    --

    Each sale has to be reported separately. If you have the information formatted the same as the Form 8949, you can attach a pdf to your return.

    Ira Smilovitz, EA
    Leonia, NJ

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From MZB@21:1/5 to ira smilovitz on Thu Feb 17 00:13:52 2022
    On 2/16/2022 2:52 PM, ira smilovitz wrote:
    On Wednesday, February 16, 2022 at 1:38:05 PM UTC-5, MZB wrote:
    On 2/13/2022 4:39 PM, MZB wrote:
    OK, in 2020 I started minimally dabbling in Crypto. So, I had a crypto
    exchange and a crypto wallet. BTC would go into my wallet from my
    exchange at varying times and leave my wallet, turning into dollars.

    Anyway, I now have a gains/loss spreadsheet. There are 16 transactions.

    It appears I have to treat it as a sale of assets.

    Anyway, here's the easy question:

    Instead of inputting 16 separate transactions, can I just put in one
    figure for costs/proceeds (sum of the 16 components for each)? They are Y >>> all ST.

    BTW, my gain is a whopping $101.

    Mel

    ANYBODY??

    MEL
    --

    Each sale has to be reported separately. If you have the information formatted the same as the Form 8949, you can attach a pdf to your return.

    Ira Smilovitz, EA
    Leonia, NJ

    Ira, thank you for having the patience to answer my (and others)
    questions. But next time, can you tell me what I want to hear.



    Mel

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ira smilovitz@21:1/5 to MZB on Thu Feb 17 01:41:59 2022
    On Thursday, February 17, 2022 at 12:18:10 AM UTC-5, MZB wrote:
    On 2/16/2022 2:52 PM, ira smilovitz wrote:
    On Wednesday, February 16, 2022 at 1:38:05 PM UTC-5, MZB wrote:
    On 2/13/2022 4:39 PM, MZB wrote:
    OK, in 2020 I started minimally dabbling in Crypto. So, I had a crypto >>> exchange and a crypto wallet. BTC would go into my wallet from my
    exchange at varying times and leave my wallet, turning into dollars.

    Anyway, I now have a gains/loss spreadsheet. There are 16 transactions. >>>
    It appears I have to treat it as a sale of assets.

    Anyway, here's the easy question:

    Instead of inputting 16 separate transactions, can I just put in one
    figure for costs/proceeds (sum of the 16 components for each)? They are Y >>> all ST.

    BTW, my gain is a whopping $101.

    Mel

    ANYBODY??

    MEL
    --

    Each sale has to be reported separately. If you have the information formatted the same as the Form 8949, you can attach a pdf to your return.

    Ira Smilovitz, EA
    Leonia, NJ

    Ira, thank you for having the patience to answer my (and others)
    questions. But next time, can you tell me what I want to hear.



    Mel
    --

    I feel your pain.

    Ira Smilovitz, EA
    Leonia, NJ

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)