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How do I add a Crypto Capital Gains/Loss Summary report and file with form 8453 and 8949?

 
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JamesG1
Expert Alumni

How do I add a Crypto Capital Gains/Loss Summary report and file with form 8453 and 8949?

You may consider reporting summary information.   

 

Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered

 

You will enter the summary info instead of each individual transaction.  Follow these steps. 

 

  • Select Federal Taxes across the top of the screen.
  • Select Wages & Income across the top of the screen.
  • Select I'll choose what I work on.
  • Scroll down to Investment Income.
  • Click to the right of Stocks, Mutual Funds, Bonds, Other.
  • At the screen Let’s finish pulling in your investment income, select Add investments.
  • At the screen Let Us Enter Your Bank and Brokerage Tax Documents, select Skip Import.
  • At the screen OK, let’s start with one investment type, select Stocks, Bonds, Mutual Funds and select Continue.
  • At the screen Which bank or brokerage sent you this form, enter the information.  Continue.
  • Do these sales include any employee stock, enter No.
  • Do you have more than three sales, enter Yes.
  • Do these sales include any other types of investments, enter No.
  • Did you buy every investment listed, enter Yes.  Continue.
  • On the screen Now, choose how to enter your sales, select Sales section totals.  Select Continue.
  • On the screen Look for your sales on your 1099-B, select Continue.
  • At the screen Now, enter one sales total, enter the information.  Continue.
  • Select Add another sales total as necessary.  Continue.
  • You will mail a paper copy of the IRS form 1099-B to the IRS.
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