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cyp
Level 2

Coinbase transaction

I receive Form 1099-K.

I am wondering how I should report the transaction.

I have more than 300 transaction for different cryptocurrency. 

Do I need to list out all the transactions? If so, it will be too many transaction. 

Or I could list out the summary?

Thank you!

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3 Replies
HollyP
Employee Tax Expert

Coinbase transaction

There's an upload limit of 250 cryptocurrency transactions in TurboTax Online Premier. If you have more than that, you’ll need a transaction aggregator. We’ll walk you through that in the cryptocurrency section.

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cyp
Level 2

Coinbase transaction

I m not sure what is taxable and what is not taxable. 

I bought and sell bitcoin, but I keep them in the wallet and haven't convert it into cash. 

Is it taxable or not taxable? 

Coinbase transaction

From the TurboTax help:

 

A cryptocurrency transaction is taxable if it was:

  •  Converted to a regular currency, like US dollars
  •  Sold for a profit or a loss
  •  Exchanged for another type of cryptocurrency
  •  Spent to pay for goods and services

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