Get your taxes done using TurboTax

Your IRS form 1099-DA reports gross proceeds, the digital asset, the number of units and the number of transactions.

The gain/loss report will allow you to allocate the $92,744.68 in gross proceeds to the ten transactions.  Each transaction will be assigned to long-term and short-term based upon the date of sale and date of purchase.

The gain/loss report will allow you to assign the cost basis of the investment sold for each of the ten transactions.

You would be able to report each of the ten transactions (which would total $92,744.68) into TurboTax using the one-by-one method.  Or you would be able to report the summary transactions (which would total $92,744.68) into TurboTax using the sales section totals. 

You may enter the summary information instead of each individual transaction.  Create a .PDF of the IRS form 1099-B and your analysis of the gain/loss report to upload into TurboTax Online.  Follow these steps.

1. Down the left side of the screen, click Federal.
2. Down the left side of the screen, click Wages & Income.
3. Click the down arrow to the right of Investments and Savings.
4. Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).Click Add investments.
5. On the Save time and connect your financial accounts screen, select Enter a different way.
6. On the How do you want to add your docs? screen, select Type it in myself, then Continue.
7. At the screen OK, let's start with one investment type, select Digital Assets.  Click Continue.
8. At the screen Which bank or brokerage is on your 1099-DA, enter the information. Click Continue.
9. At the screen Did you get a 1099-DA from XXX?, select Yes.  Click Continue.
10. Answer the questions at the screen Tell us about the sales on your 1099-DA.
11. Do you have more than three sales, enter Yes.
12. Did you buy every investment listed, enter Yes.  Continue.
13. On the screen Now, choose how to enter your sales, select Sales section totals.  Select Continue.
14. At the screen Look for your sales on your 1099-DA, select Continue.
15. You will now be able to enter the total proceeds (sales) and cost basis, along with the sales category.
16. Report Short-term transaction with basis not reported to the IRS or Long-term transaction with basis not reported to the IRS.
17. Enter total proceeds,  total cost is $0, select I need to adjust my total cost basis.  
18. Enter the correct adjustment (not the cost basis) in the Total adjustments to gain.
19. Select code B (cost basis incorrect on form).
20. When finished, select Continue.
21. You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
22. When completed, close the record and click Continue.
23. At the screen Now, we'll help you upload your 1099-B since the IRS requires a copy, browse and select your document.  Select Continue.
24. When you upload your document, your filing instructions will not show that anything needs to be mailed in, and no IRS form 8453 will be generated.

@Max3721