Cryptocurrency Forms 8949 & (Do i need to mail 8453?)

Forum|Forum|5 years ago
April 4, 2021
1 reply
32 views

I uploaded my cryto CSV file in to TurboTax. It generated a summary of all my crypto transactions instead of listing them individually. I e-filed. Turbotax did not tell me if I need to mail in 8453 with all my detailed cryto taxable events. (I found a post about 8453 after I filed) Do I need to mail in 8453?

It did not indicate under (f) code "m" for see attachment

Turbo Tax listed my crypto as

(a): CryptoTrader.Tax - Short-term

(b): Various

(c): 12/20/20

(d): $5,117

(e) $5,070

(f)

(g)

(h) 47

Best answer by fanfare

IRS requires all closing transactions to be detailed on form 8949 or on your equivalent form (i.e. spreadsheet ) with the same information and in the manner of Form 8949.

Your sales category should be C or F since you don't have a 1099-B.

There is no exception for those sales categories.

In this case, TurboTax is failing to remind you that you have to mail the transactions details within three business days of your e-Filed return being accepted.

DaveF1006

Level 15

It depends. if Turbo Tax determined you did not need a 8453, then it isn't required. An 8453 would only be issued if your transactions were summarized and not detailed in your return.

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TaxGuy024Author

Level 2

TurboTax did not indicate I need to mail in a 8453, but my transactions WERE summarized and not detailed in the return that I e-filed. I printed the e-file return and it shows they were summarized as stated in the original post. Please Advise.

fanfareAnswer

Level 15

IRS requires all closing transactions to be detailed on form 8949 or on your equivalent form (i.e. spreadsheet ) with the same information and in the manner of Form 8949.

Your sales category should be C or F since you don't have a 1099-B.

There is no exception for those sales categories.

In this case, TurboTax is failing to remind you that you have to mail the transactions details within three business days of your e-Filed return being accepted.