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Level 2
posted Feb 12, 2022 2:37:23 PM

I have hundreds of crypto transactions from coinbase that are zero proceeds, zero cost basis and zero gains/loss. Do I need to report these?

Turbo Tax is flagging all these with issues and wants me to go and mention how I acquired them (they are the cryptos that generate fractional shares) and confirm the cost basis of zero.   Can I just delete them instead of going one by one which takes several minutes each? If there is no gain/loss or value why would I report it?

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4 Replies
Level 2
Feb 12, 2022 4:06:28 PM

These were the individual contributions of the crypto that had daily accrual showing the cost basis of each individual fractional share. I removed all the zero gain/loss ones and it got rid of all the reviews, also did not change my overall tax refund

Level 15
Feb 13, 2022 5:29:13 AM

there is no point to including a transaction detail record of all zeros.

New Member
Mar 26, 2022 6:36:58 AM

Did this work for you? I have about 10 transactions showing like this. Do I just delete them?

Expert Alumni
Mar 28, 2022 8:06:55 AM

@Gggggmike  If you delete all of the transactions that are all zeroes it will not effect your return in the slightest and the IRS will not care.