- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
I assume you didn't get any 1099-B for those trades, all "capital" in nature, and that you can somehow edit or manipulate that 100+ line Schedule.
Use the "Stocks, Mutual Funds, Bonds, Other" interview telling TurboTax that no 1099-B was received.
Use the "Everything else" investment type.
Make sure your list reports the same information that a Form 8949 would report:
- What was sold
- Date of sale
- Proceeds of sale
- Cost basis
- Date of acquisition
Separate out short term (< 1 year) trades from the and long term (>1 year) trades and provide subtotals for the proceeds and basis dollars.
On the page "Some Basis Info About This Sale" enter "Summary of ST Crypto Currency Trades" or "Summary of LT Crypto Currency Trades" depending which group you're working on. Enter the total dollar amount of proceeds for each group as appropriate and you can use 12/31/2017 for date of sale.
On the "Tell Us How Your Acquired This Property" page tick "Purchased".
On the "Enter Purchase Information" page enter the summary cost and the word "various" in the Date of Purchase box.
On the "When Was This Investment Acquired" page you'll answer "Yes" for the long term trades and "No" for the short term trades.
If you're mailing in your income tax returns you can include your manipulated substitute for a Form 8949 as part of your filing.
If you are e-filing your tax return, then mail your statements along with Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
Tom Young