Perhaps, however you seem to know all the details of your transactions and that's all it takes. As far as the $16 difference, you can add or subtract that from your gross proceeds to arrive at the correct total of sale proceeds reported on your Form 1099-B. You can use the 1099-B section to enter your cryptocurrency sale (see below). Repurchase is not part of the equation except when the repurchased items are sold at which time the cost basis is needed. Any gain or loss from actual transfers/sales is reported regardless of what the funds were used for.
- In TurboTax Online you will find Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) as a selection under Investment Income
- In TurboTax CD/Download you will enter Cryptocurrency as a Stock, Mutual Funds, Bonds, Other, under Investment Income
- OR simply search for Cryptocurrency in the upper right
Be prepared with the following information:
- Service name (examples: Coinbase)
- Asset name (examples: Bitcoin, Ethereum)
- Date of purchase
- Cost basis
- Date of sale
- Sale proceeds
- Associated costs to buy and/or sell
You can do a summary of long term and then short term combinations (long term holding is more than one year, short term holding is one year or less). Make one entry for each. You can then send the worksheets or statement with Form 8949 after your return is accepted, attached to Form 8453.
- Sale date can be the last date a sale occurred or 12/31/2021
- Purchase date can be 'Various'
If you are e-filing your tax return, then mail your statements (including Form 1099-B), along with Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet).
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