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illuminato
Returning Member

Do I need file transactions from 1099-B if proceeds (1e) are the same as Cost Basis (1e)?

I received 1099-B (crypto trading). I cannot report summery without mailing to IRS because box 5 is checked. So I am reporting all transactions in my tax return instead of mailing.  Some of my transactions have proceeds (1e) e.g. $99.98 are the same as Cost Basis (1e) e.g. $99.98.  Do I need report such transactions or can I skip them? 

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Do I need file transactions from 1099-B if proceeds (1e) are the same as Cost Basis (1e)?

yes, because the IRS will get a report and know you omitted the sales.  then you can expect a notice.

 

illuminato
Returning Member

Do I need file transactions from 1099-B if proceeds (1e) are the same as Cost Basis (1e)?

sorry, didn't get it. Do I need add them to file, correct? 

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