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Get your taxes done using TurboTax
Yes, you still report them in that section, even if you don't have a 1099-B. Here's how to report it:
- Sign in to TurboTax.
- Select Income & Expenses
- Select Start or Update to the right of Stocks, Cryptocurrency, Bonds, Mutual Funds, Other, which is under Investments and Savings.
- Answer the first question Yes, or if you already have sales, select Add Sales.
- Select Enter a different way.
- Select the Other tile, then Continue.
- Enter a description as the name, then select Continue.
- For type, select Cryptocurrency, or Stock.
- Answer I received it as a gift to How did you receive this investment?
- For the next few boxes enter the information from your transaction.
- For Previous owner's cost basis, enter the value of the asset when you received it. That would be the amount you reported as taxable income when you received it.
- Select Continue.
- Repeat from step 4 until you have entered all of your transactions.
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March 27, 2024
1:28 PM