Crypto Airdrop/Stake

[kgraghu]

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?

[ErnieS0 · Accepted solution]

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.

[kgraghu]

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?

[PattiF · Accepted solution]

No, you are not required to import TXF files for these transactions. Keep the records of these transactions in your files for at least three years.

[kgraghu]

Thank you, this is very helpful.