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Level 1
February 24, 2021
Solved

Crypto report question

I'm trying to manually report my coinbase pro transaction. I purchased my coin at different times and sold them later. Problem is I can only insert one date of purchase. Is it ok if I can I leave this box blank? What can I do if I have more than one date of purchase?

JohnB5677
JohnB5677Answer
Alumni - Intuit
February 24, 2021

No, you cannot leave the date blank.  You do have the option of entering "Various".  This will account for multiple purchases.

 

As a caution.  Be sure that all of the transactions are categorized as  short term or long term trades.

Capital Gains and Losses (intuit.com) 

 

There is a procedure for entering Various into you investment transactions.

Open (continue) your return if it isn't already open.

Income & Expenses

  1. Scroll to Stocks, Mutual Funds, Bonds, Other
  2. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
    • If you see Here's the info we have for these investment sales, select Add More Sales.
  3. Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
  4. At Let's get your tax info, choose how you want to enter your 1099-B (type it in yourself)
  5. Select the pencil to work on the transaction
  6. In the date area there are two bullets.
    • On one Date, and
    • Something other than a Date
  7. Select Something other than a Date
  8. There is a drop down menu for Various.
**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

1 reply

JohnB5677
JohnB5677Answer
Alumni - Intuit
February 24, 2021

No, you cannot leave the date blank.  You do have the option of entering "Various".  This will account for multiple purchases.

 

As a caution.  Be sure that all of the transactions are categorized as  short term or long term trades.

Capital Gains and Losses (intuit.com) 

 

There is a procedure for entering Various into you investment transactions.

Open (continue) your return if it isn't already open.

Income & Expenses

  1. Scroll to Stocks, Mutual Funds, Bonds, Other
  2. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
    • If you see Here's the info we have for these investment sales, select Add More Sales.
  3. Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
  4. At Let's get your tax info, choose how you want to enter your 1099-B (type it in yourself)
  5. Select the pencil to work on the transaction
  6. In the date area there are two bullets.
    • On one Date, and
    • Something other than a Date
  7. Select Something other than a Date
  8. There is a drop down menu for Various.
**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"