KrisD15
Expert Alumni

Investors & landlords

If you can enter a summary, you can add the small amounts of fees and add a yearly total. 

 

If you are able to get a summary, or summarize them yourself, you can enter as "Stocks Bonds, Mutual Funds" 

(Long Term ((MORE THAN ONE YEAR)) Short Term ((ONE YEAR OR LESS))  Gain/Loss) (Date of Purchase- various)

If you are e-filing, paper-mail Form 8453 with the statement or 1099-B  you have showing the transactions, within 3 days of an acknowledgement of the acceptance of your e-filed Federal Return.

 

Check the box on Form 8453 for Form 8949 (the last option)

 

Mail Form 8453 to:

 

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254 

 

(If you are mailing in a paper 1040, include the statement only with the paper return)

Be sure to separate any earned income (Mining, Air Drops) from trades. Enter any "Earned Income" on your Schedule C. 

TurboTax (Online) does have a separate section for reporting Virtual Currency trades, but that is just a convenience for the customer. It all goes to Capital Gains/Loss. 

 

DESKTOP:

Personal 

Personal Income 

I'll choose what I work on

Scroll down to "Investment Income"

"Stocks, Mutual Funds, Bonds, Other" START

Did you get 1099-B?"   NO   

Select "I'll enter a summary for each sales category" 

If you have both Short Term and Long Term, you will need to enter each on a separate screen.  


 

FORM 8453

 

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