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Some additional details would be helpful in providing guidance; ie: what exactly is going on with the Crypto transactions.
Not sure what you are looking for? It says "Payment Card and Third Party Network Transactions". Type of filer is PSE; Type of Payment: 3rd Party Network; Box one is Gross amount; Box 3 is number of transactions Boxes 5a to 5L list amounts; box 6 is State; box 7 is filer ID; box 8 is state income tax withheld, which is $0
I have the same question, I didn't do contract work or make a business either
I have same question, didn't do contract related work or make a business. It was a personal crypto.com account for personal crypto trading only.
The act of crypto trading or the act of crypto mining are taxable events. Review the information below to see how you should report your crypto transactions.
If you purchased Crypto and did not trade any then there is nothing to report until a tax year where you actually trade it. Then we have crypto mining which is different. If you have done mining, then you are considered to be self employed and this income is reported as though you were in business as an independent contractor.
Reporting for Mining:
The definition of mining vs trading are listed below for your convenience.
Mining: The way cryptocurrencies are created - How will mining customers report their income and expenses
If you decide you are mining follow the steps below to begin reporting:
Trading: The exchange of goods/services for cryptocurrency
Reporting for trading: You can aggregate your sales but separated for long term and short term. (Long term is for crypto that has been held longer than one year, i.e., one year plus one day). You can use two transactions, and you can use 'various' for the date of purchase, then select long or short term for the type of sale/trade.
Form 8949 will be competed, and this, along with your detail information documents must be mailed within three days after your return has been accepted with Form 8453 as the cover sheet.
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet).
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