I sold crypto currency in 2024. On the Capital Gains form what should I enter for "Year of acquisition" if it was bought over time in 2022 and 2023?

[TurboTaxVeronique]

We cannot tell you what year to enter. If the Year of acquisition is 2022, you should enter 2022, and same for 2023. Is it for 2 different cryptoassets? 

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[vijaynandlal11]

Thanks for the response. To clarify, I bought Bitcoin in 2022 and bought more Bitcoin in 2023 and sold all in 2024. What should I enter in the box "year of acquisition" 2022 or 2023, thanks.

[TurboImpotNadia]

You can enter more than one transaction in the capital gain form. We recommend you enter each transaction individually for each year of acquisition. For example, if you purchased 0.004 bitcoin for $500 in 2022 and you sold the same quantity for $1000 in 2024, you enter this as a first transaction, and then for the second transaction you enter, for example, that you purchased 0.005 bitcoin in 2023 for $1000 and you sold the same quantity for $3000 in 2024. 

*** Note that you can not enter decimals on the capital gains/crypto form; you must round off the number to one. Since only the purchase price and the sale price are considered, this has no effect on the computations. 

I hope this helps!

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