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be sure to keep immaculate records
Posted on: January 4, 2021 at 10:55:14 CT
Joeboo MU
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I've seen horror stories of people receiving a copy of their form 8949 that only reported gross sales of cryptocurrenty, whereas they have thousands, or hundreds of thousands of buy/sell transaction across multiple services or websites that they have to ultimately reconcile.
Saw an account of one guy online who was being audited where his 8949 reflected that he sold something like $5million in crypto during a calendar year, and the IRS was wanting the taxes on that when in reality his profit after losses was only a few thousand.
Saw an account of one guy online who was being audited where his 8949 reflected that he sold something like $5million in crypto during a calendar year, and the IRS was wanting the taxes on that when in reality his profit after losses was only a few thousand.
Please explain why this message is being reported.
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be sure to keep immaculate records - Joeboo MU - 1/4 10:55:14