My name is on a Coinbase account as nominee for a partnership's crypto sale. The partnership receives all funds from crypto sales to its bank account, filed its 1065 & issued a K-1 to partners, including myself. How do I report on my personal return?

[Newby1116]

I understand need to report the full gains on form 8949 and adjust with Code N, to zero, is that it ? or additional forms need to be filed. Some online say I need to file form 1099 B to the partnership, but the partnership already  filed the return for 2024 including this gain, and distributed K1, so additional 1099 B for 2024 will create confusion, also not seeing anything in IRS rules about 1099 B for nominee not receiving 1099 B.  Coinbase does not report to IRS, and 8949 is under Box F. 

[M-MTax]

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@Newby1116 wrote:

.....not seeing anything in IRS rule about 1099 B or other forms needed to file.....

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Here: https://www.irs.gov/instructions/i1099gi#en_US_2025_publink1000286907

[Newby1116]

Thanks...  IRS rules say IF you recieved 1099 B, I never received one, I am filing under Box F, coinbase does not provide 1099 B, also the partnership already filed 2024 tax and distributed K1, including to me with portion of the gain.

[M-MTax]

It might not be an issue at all, BUT if you do report the full amount received as nominee, the IRS is going to want to know the responsible party(ies) (i.e., who should have received all, or part of, the income reported).

[Newby1116]

Agree... just worried  if I put nothing in 8949, if coinbase one day report to the IRS SS# and gains, i will be flagged as someone who did not pay the tax, even though the partnership did, of course, maybe best way is just to handle it then, all records are crystal clear... also you are right the IRS needs to know who the gains belong to. ? Maybe can just put that in transaction description box? "gains reported by EIN XX-XXXX ?

[M-MTax]

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@Newby1116 wrote:

......just put that in transaction description box? "gains reported by EIN XX-XXXX ?

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The most simple and straightforward way to handle this and you always have documentation if ever questioned.