Getting a 1099-B form for cryptocurrency

[assistanceneeded]

A few weeks ago I asked several questions about filing crypto trades on my taxes. One of the things explained to me was that I needed the exchange to send me a 1099-B form so I could properly file my taxes. I did some research into the exchanges I was planning to use, but none of them seem to send 1099-B forms. I also did some research on TurboTax and it looks like crypto transactions can be imported from the exchanges I wanted to use. The information is here under the heading "Which crypto services can I import from?"

My questions now are

1. Is a 1099-B form even required for filing my taxes if the transactions can be imported to TurboTax directly from the exchange, and

2. If a 1099-B is needed what are some crypto exchanges that send them? The exchanges I found that were better for trading didn't seem to issue them.

[rjs]

You do not need a 1099-B. You need the details of each sale that would be on a 1099-B if you got one, because you have to enter those details in your tax return, on Form 8949. You need the purchase and sale dates, the purchase price, the sale price, and the amount of any disallowed loss from a wash sale. If you can get those details by importing the information, that is completely acceptable.

CORRECTION: I believe that for 2022 the wash sale rules do not apply to crypto.

[fanfare]

IRS will be cracking down soon and requiring exchanges to supply you a 1099-B.

Some exchanges provide a CSV file instead, but that doesn't always work.

If TurboTax won't accept your CSV file, proceed as follows.

Adjust your csv files so the columns are in the same order as on Form 8949.

Put a header with your name tax year and SS Number.

Use the summary option and then you can mail in the printout of the CSV files.
See the TurboTax instructions that will pop up.

You would use Category C and/or F since you don't have a 1099-B.

At tax time, you will subtotal your SELL transactions by Sales Category.

IRS requires Box C/F details to be listed on your own Form 8949,
or on your other forms (e.g. spreadsheets) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize (not itemize) and e-File, you have to mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.

If you put the printout in PDF format, TurboTax Online may ask you for it.

Then you would avoid mailing.

Update: you're supposed to use Form 8453 as a cover sheet.
Form 8453 is not to be signed.

.

[assistanceneeded]

@rjsThank you for the answer.

I did some research into wash sales after I read your reply and I don't understand exactly what the sale of "a security," means in this case. Could you explain that?

[fanfare]

Virtual currencies (digital assets) are not securities.

Securities are covered under Securities Exchange Act of 1934 

which was a long time ago.