I bought crypto (Dodge) last year on Robinhood, and I lost money after it crashed. Do I need to submit my 1099?

posted

What do you mean by submit?

Do you mean, do you have to enter your 1099-B in TurboTax? Yes, you generally do especially if you you're required to file a tax return.

Do you mean, do you have to send your 1099-B to the IRS? Yes, if you entered your 1099-B as a summary in lieu of transactions. Please see the TurboTax FAQ: How do I enter a large number of stock transactions in TurboTax Online? You enter a summary for each category in TurboTax, E-file your return and three days after the IRS has accepted your return, mail in the detail of your 1099 forms, along with form 8453. This way, you don't have to manually enter or review all the transactions.

[Edited 04/17/2022|12:22 pm PST]

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