Enter cryptocurrency transactions

Forum|Forum|2 months ago
March 13, 2026
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This is the first time that I have tried to enter cryptocurrency transactions on TurboTax Windows version. I did not receive a 1099 form as the amounts are very small. After I enter my transactions, TurboTax indicates that the transactions need review. I cannot get rid of this, no matter how often I review the transactions. I don't know what I am missing. What do I need to do? Thanks for your help!

Best answer by TomK2023

Sometimes the program will "flag" this cryptocurrency section if you answer "No" to having a form (even though you didn't get one).

You can try the following options as a workaround of your issue.

Open or continue your return.
Revisit the crypto section, and when asked, "Did you get a 1099-DA (or 1099-B)?" select "Yes".
Select "I'll type it in myself" on the next screen.
Select "One by one" for the entry method.
Enter your transaction details (use Coinbase, Binance for the "Institution Name") or "Manual Entry."

2. If you only have a few transactions and they are small, you can bypass individual entry entirely by:

Open or continue your return.
Delete your current crypto entries.
Click on "Add Investments", then Click on "Stocks, Bonds, Mutual Funds."
Select "Other", when asked for the type.
Enter a Summary Total (for example):

Description: "Crypto Sales Summary"
Date Sold: Use 12/31/2025.
Date Acquired: Use "Various."
Proceeds/Cost Basis: Enter your total totals for the year.

Since the amounts are very small and no 1099 was issued to the IRS, a summary is perfectly acceptable for reporting purposes.

TomK2023Answer

Level 15

Sometimes the program will "flag" this cryptocurrency section if you answer "No" to having a form (even though you didn't get one).

You can try the following options as a workaround of your issue.

Open or continue your return.
Revisit the crypto section, and when asked, "Did you get a 1099-DA (or 1099-B)?" select "Yes".
Select "I'll type it in myself" on the next screen.
Select "One by one" for the entry method.
Enter your transaction details (use Coinbase, Binance for the "Institution Name") or "Manual Entry."

2. If you only have a few transactions and they are small, you can bypass individual entry entirely by:

Open or continue your return.
Delete your current crypto entries.
Click on "Add Investments", then Click on "Stocks, Bonds, Mutual Funds."
Select "Other", when asked for the type.
Enter a Summary Total (for example):

Description: "Crypto Sales Summary"
Date Sold: Use 12/31/2025.
Date Acquired: Use "Various."
Proceeds/Cost Basis: Enter your total totals for the year.

Since the amounts are very small and no 1099 was issued to the IRS, a summary is perfectly acceptable for reporting purposes.

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jrose20511Author

Level 2

Thank you very much for your response! For some reason, when I tried to use the summary method, I still got the "Needs Review" on the transaction. So I tried the digital assets method, selected "yes" when it asks if I had a 1099-DA, and entered my transactions. Success! No "Needs Review" for any of my entries! Thanks again!