May I aggregate cost basis and proceeds for each cryptocurrency asset that had a taxable event during the tax year? Or must I enter every single transaction?

I would rather enter a single line for each crypto asset (e.g., BTC, ETH) with the aggregated cost basis and proceeds during the tax year for each asset in lieu of entering multiple transactions for BTC, ETH, etc. All transactions were short term capital gains in my case. I don't see a way to enter "various" as the date of purchase however, so I'm not sure how to report it within Turbotax if this method is allowed.

241

Expert Alumni

Feb 17, 2021 8:55:48 AM

Yes, you can summarize your transactions, but there is an additional step.

You can E-file your tax return, but you will be required to mail a Form 8949 and attach a list of all of the individual transactions.

This guide will tell you where to mail it to: Where to File Paper Tax Returns With or Without a Payment | Internal Revenue Service (irs.gov)

You will also have to mail a copy to your state if your state has income taxes.

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May I aggregate cost basis and proceeds for each cryptocurrency asset that had a taxable event during the tax year? Or must I enter every single transaction?