Crypto Airdrop/Stake

Forum|Forum|3 years ago
April 1, 2023
1 reply
8 views

I have 100+ crypto stake transactions and few crypto airdrop transactions. I am entering two summary records, one for airdrop and another for Stake in Other misc, Income section. Do I need to send individual transactions details to IRS? If yes, what other forms do I need to submit?

TurboTax Home & Biz Windows

Best answer by ErnieS0

No. You would need to additional documentation to the IRS if you are summarizing miscellaneous income unless they ask for it later.

You only need to send a Form 1099-B transaction summary or comparable statement if you are summarizing capital gains and losses on Schedule D.

ErnieS0Answer

Level 15

No. You would need to additional documentation to the IRS if you are summarizing miscellaneous income unless they ask for it later.

You only need to send a Form 1099-B transaction summary or comparable statement if you are summarizing capital gains and losses on Schedule D.

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kgraghuAuthor

Level 4

Thank you! Great, it is good to know that I don't have to send anything to IRS. Do I required to import TXF for these crypto airdrop/stake transactions?