MargaretL
Expert Alumni

Get your taxes done using TurboTax

Yes, you can include the list of transactions… but you will have to "organize" them in TurboTax. Basically, you will create Short-Term and Long-Terms sales.

  1. Federal
  2. Wages and Income
  3. Investment Income
  4. Select Stocks, Mutual Funds, Bonds, Other - let the program know that no 1099-B was received.
  5.  Select Everything Else as investment type (You also need to make sure that you are reporting information as it would be on 8949 form, so- long-term (LT) short-term (ST), what was sold, when it was sold, proceeds on the sale, cost basis, and date of purchase).

 On the Screen, Some Basic Infor About This Sale,  type "Summary of ST Cryptocurrency Trades" and enter the total dollar amount for each group of the currency that you have. Date of sale can be 12/31/2018. Date of purchase is various, but on the screen that asks When was This Investment Acquired, you will answer No for Short-Term trades and Yes for Long-Term trades.

And then repeat the same process for Long-Term (LT).

 

If you are mailing your income tax return, you can include the statements(your list of transactions) with the trades. If you are e-filing your tax return, you have to mail the statements along with the Form 8453, which you have to download. (check the last box on the form that says Form 8949…)

Mail Form 8453 and your list of transactions to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin TX 73344-0254

 

Good luck!