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July 8, 2023
Question

Reporting paid taxes for sold cryptocurrency.

  • July 8, 2023
  • 1 reply
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How does an individual report the taxes that were paid for cryptocurrency that was sold?

1 reply

DoninGA
Employee
July 8, 2023

How were the taxes paid?

If the brokerage firm withheld federal taxes on the sale of the investment then those taxes will be reported on the Form 1099-B.

When entering the 1099-B in TurboTax the taxes paid will be reported on your Form 1040 Line 25b as a tax payment.