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Anonymous
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Should we report Robinhood's cryptocurrency info as just another 1099-B or in the TurboTax's separate cryptocurrency section?

Robinhood sent me a 1099-B for the cryptocurrency (bitcoin) separately from the 1099-B for stocks. Robinhood also provides a CSV file containing the bitcoin transactions. TurboTax Online lets us add 1099-B forms and also has a separate section for cryptocurrency that only accepts the Robinhood's CSV file (and doesn't ask for the cryptocurrency 1099-B form).

 

Which one of these two options should we use? Using them both would double count them.

 

(a) Should I enter the 1099-B for cryptocurrency as just another 1099-B form and leave the TurboTax's cryptocurrency section empty?

or

(b) Should I not add my cryptocurrency 1099-B form and just use TurboTax's cryptocurrency section that only uses the CSV file containing transactions?

 

Thanks for you help!

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1 Reply
DavidS127
Expert Alumni

Should we report Robinhood's cryptocurrency info as just another 1099-B or in the TurboTax's separate cryptocurrency section?

Choose the one that is easier for you to enter into TurboTax.  The impact on your taxable income will be the same regardless of which one you use.

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