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Returning Member
posted Feb 14, 2022 5:18:29 PM

TurboTax is requiring me to verify each individual transaction on my 1099-B

TurboTax is requiring me to verify each individual transaction on my 1099-B. I paid for Koinly so I would not have to input the data myself as it would take many hours. Now, after doing everything right, Turbotax is requiring me to verify each of my 300+ transactions. Is this a bug? Any hope that there is a way around this?

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2 Replies
Level 2
Feb 15, 2022 1:22:17 PM

I had the same situation. I just opened the parts to be verified and clicked looks good.

Expert Alumni
Feb 15, 2022 5:26:32 PM

The problem is that the IRS expects each virtual currency transaction looked at in case of any of the transactions were loss due to personal use, such as lunch at Starbucks or payments towards bills, etc. Loss on use of personal property should not be included on your return. The gains are included along with any transactions that were investment related.