I didn’t report my crypto taxes last year. What do I do?
We all know crypto began as a kind of cyberpunk libertarian movement, where many didn’t think you had to report taxes. Even if you knew you had to report, you weren’t sure how. If you were in this situation, what do you do? It’s totally ok — you can file an amendment.
How do tax return amendments work?
IRS tax return amendments are not that complex. If you want to file an amendment for a previous year (you can go back 3 years), you will simply need to mail the IRS the following:
A copy of your old return
An explanation of why you are amending
Supporting forms or schedules. If you forgot to file claim your crypto in 2017, you would include the missing 8949 and Schedule D along with this submission. These documents would reflect the crypto gains or losses you want to report.
A completed Form 1040X
Our team is happy to help with amending. The TokenTax software takes data as many years back as necessary. Just reach out to us.
TokenTax does the work so you don’t have to.
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