GiseleD
Expert Alumni

Investors & landlords

If your 1099-B is showing "various" for acquired dates, then I would strongly recommend getting all your transactions in .csv form or even working with a company to reconcile your crypto transactions before you import them into TurboTax. It sounds like the "various" entries in your 1099-B might relate to crypto purchased prior to 2019. However, the issuer of the 1099-B does not know the acquisition date because you likely transferred the crypto to the issuer from another exchange instead of buying it right from the issuer. Frequent coin movements are common practice in the crypto space, as I'm sure you are aware.

 

Reporting the correct dates of acquisition for each crypto traded is the difference between the preferential long-term capital gains tax rates (asset held over one year) and unfavorable short-term capital gains rates (asset held less than one year). 

 

@gabegssanchez89

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