What can I do about being over the CSV transaction limit of 4000, if I am not interested in paying an aggregator to calculate the p/l that I already have myself? (crypto)

I have a full CSV of all coins and transactions with dates and I know all of the profit and loss. The turbotax recommendation is to pay a tax aggregator, but that is silly being that I already have all of it captured and calculated. First thought is to just break them out by coin and upload separately. the other thought would be to somehow summarize the transactions to just p/l over various dates but I am unsure how to do that in TT.

198

Expert Alumni

Feb 16, 2022 2:44:52 PM

You can substitute the form that you were provided for a 1099-B.

You can enter them in to the sales sections even though your crypto statement doesn't break them out that way.

The four sections are -

Short term covered (owned the crypto for less than a year and the basis amount that was reported to the IRS is correct)
Short term non-covered (owned the crypto for less than a year and the basis amount that was reported to the IRS is incorrect or wasn't reported at all)
Long term covered (owned the crypto for more than a year and the basis amount that was reported to the IRS is correct)
Long term non-covered (owned the crypto for more than a year and the basis amount that was reported to the IRS is incorrect or wasn't reported at all)

With crypto (and 4000 transactions) most of your totals will fit in the first two. The IRS will get the statement so you don't have to worry about them being unable to match this stuff up.

You have to tell the system you have a 1099-B and then upload the forms that you have as attachments so the IRS can see all of your transactions.

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What can I do about being over the CSV transaction limit of 4000, if I am not interested in paying an aggregator to calculate the p/l that I already have myself? (crypto)