No Form 1099, instead I have 8949

[bms025]

Hi,

When I login to access my tax statements from Coinbase, it says I won't get 1099 since my profits weren't more than $600. But I was able to extract Form 8949 from coinbase with Box C and F checked.

Now the question I have is, 

1. Do I need to report this investment since coinbase is not giving me 1099?

2. Do I need to report with 8949 with Box C and F checked - transactions not reported to you on Form 1099-B ?

3. If I need to report, then can I just enter a summary since I can't access Coinbase in the list of brokers/firms in Turbotax.

I'm using Turbotax deluxe desktop version

Please clarify. 

[ThomasM125]

You do need to report the investment sales. You will be able to indicate in TurboTax that the sales are coded Box C or Box F and it will flow to form 8949.  You can enter a summary of the sales.

Follow these steps to enter your investment sales in TurboTax:

While in the Federal section of TurboTax:

  1. Income and Expenses

  2. Investment Income

  3. Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)

Choose the category of investment you want to enter and follow the instructions to enter your investment sale.