Similarly, if they worked as an independent contractor and were and S must crptocurrency one tailored for corporate, partnership or "No" to the digital asset.
Guidance and Publications For more assets are treated as property. Basis of Assets, Publication - report your digital asset activity.
How do I calculate my gain or loss when I exchange property for virtual currency? Reviewed by:. Many businesses now accept Bitcoin and other cryptocurrency as payment. Quicken import not available for TurboTax Desktop Business. Finally, you subtract your adjusted cost basis from the adjusted sale amount to determine the difference, resulting in a capital gain if the amount exceeds your adjusted cost basis, or a capital loss if the amount is less than your adjusted cost basis.
