Paypal and Robinhood Crypto Trade with TT Home and Business

[5818870]

I have TT Home and Business CD.  I made a few Bitcoin trades on both Paypal and Robinhood.  Paypal provided no 1099, but I can get the Gain and Loss statement off their website. 

I have received a 1099 from Robinhood.  I have read on this forum that you can download .csv files on TT.  TT Home and Business and/or Robinhood does not seem to allow that. In addition, there is mention on this forum that under "wages and income" that there is a place to enter  "cryptocurrency" transactions.  I do not see that on TT Home and Business.

What I have began to do is entering these trades under investment accounts.  Since Paypal is not listed and I can't download Robinhood, i check "I will enter it myself".  When I get to "sales" and enter the information, at the "sale" dropdown, I enter "Short term uncovered" (which is where numbers on the Robinhood 1099 were). A message shows up that says "short term sales with cost basis not reported to the IRS". 

 So my question(s) are:

1) Where do I enter the crypto information on TT Home and Business?  Am I doing it correctly?  

2) Can I download the 1099 csv file from Robinhood into TT Home and Business? If I can, I can't figure it out

3) With manual entry of both Paypal and Robinhood, do I have to provide the IRS any documentation of these transactions?

Thanks.

[rjs]

1) Yes, you are doing it correctly.

2) Downloading a .csv file from Robinhood, or other crypto exchanges, is only available in TurboTax Online, not in the CD/Download TurboTax software. There is a workaround, but if you have only a few sales, and you have already started your tax return, it's easier and faster to just finish the manual entries.

3) You do not send any documentation to the IRS. But keep your 1099 from Robinhood and the gain and loss statement from PayPal with your tax records in case the IRS asks you for more information.

[5818870]

Thank you for your response.  Much appreciated.  Follow-up question: as I finished entering my transactions from Robinhood, in the TT summary it says "see attached statement".  When I click on that, it calls out that I have to mail in those statements from Robinhood along with form 8453 to the IRS (and gives an address).  It does not give me those instructions on my Paypal account (probably because I didn't get a 1099-B).

So I should mail those in??

[rjs]

Yes, mail it in. If you e-file, TurboTax will prompt you to print Form 8453 to attach the statement to. If you file by mail you don't use Form 8453. You just attach the statement to your mailed tax return.