turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Do I need to report a bitcoin transaction of only $13?

My Coinbase broker didn't report this to IRS; but did provide me a tax document. Do I need to file this transaction?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
JosephS1
Expert Alumni

Do I need to report a bitcoin transaction of only $13?

Yes, you do have to report and claim.  If you only had 1 transaction for $13, enter the transaction manually in the Investments section of TurboTax.  Also, please remember at the prompt asking if you had crypto transactions you answer yes.  If you are wondering if answering yes to reporting crypto transactions increases the likelihood of an audit the answer is no.  The IRS and state agencies are more interested in totals than in individual transactions and there are literally millions of taxpayers that have cryptocurrency transactions.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Do I need to report a bitcoin transaction of only $13?

Thanks 

MarilynG1
Expert Alumni

Do I need to report a bitcoin transaction of only $13?

Here's more info on How to Report Crypto Transactions you may find helpful. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question