How to report cryptocurrency gains?

Cryptocurrency is treated similarly to stocks for tax purposes, with capital gains or losses reported on Schedule D (Form 1040).

How are gains or losses calculated?

• Cost Basis is the amount of money invested in a cryptocurrency.
• Total Proceeds is the money you received from the sale of the cryptocurrency.
• The gain/loss will be calculated as the Total Proceeds minus the Cost Basis.

How to enter Cryptocurrency gains

1. Click “Your Expat Taxes” in the side menu, then select “Foreign and Other Income”.
2. Select “Worldwide Investment Income” and “Save”.
3. Select “Capital Gains/Asset Sales” and “Save”.
4. Select whether you have any information related to stock/property/crypto sales for the given tax year.
5. Click the “Enter Transaction” button.
1. You’ll be prompted to enter a description and answer some questions about the type of asset.
2. Input the Stock / Bond / Other Capital Asset Details and click “Save”.

Learn more about cryptocurrency reporting for expats.