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Returning Member
posted Mar 24, 2022 7:09:31 PM

Why does TurboTax import a 1099-B from Coinbase when Coinbase doesn't even offer them?

I connected TurboTax to my Coinbase account and it imported a 1099-B. This is strange because Coinbase expressly says that they are not currently generating 1099-Bs for anyone. See two pictures below. 

 

Why is TurboTax importing a 1099-B from Coinbase that does not exist? I reached out to Coinbase and check my tax documents, none exist. 

 

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1 Replies
Expert Alumni
Mar 24, 2022 7:33:18 PM

TurboTax may be populating a blank 1099-B when downloading your Coinbase 1099-MISC.  Most of the other crypto trade companies have switched to 1099-Bs so the system is probably doing this automatically.