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Getting StartedFAQsStockUS Tax Form 1040
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
- Click “Your Expat Taxes” in the side menu, then select “Foreign and Other Income”.
- Select “Worldwide Investment Income” and “Save”.
- Select “Capital Gains/Asset Sales” and “Save”.
- Select whether you have any information related to stock/property/crypto sales for the given tax year.
- Click the “Enter Transaction” button.
- You’ll be prompted to enter a description and answer some questions about the type of asset.
- Input the Stock / Bond / Other Capital Asset Details and click “Save”.
Learn more about cryptocurrency reporting for expats.
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