Unable to select option B for form 8949 crypto gains

[taxfilertoday]

When filing my cryptocurrency gains, I import information from Bitcoin.tax (crypto tax product) as a CSV file. Upon importing, TurboTax does not ask me additional questions about the transactions, including whether or not the transactions were reported on Form(s) 1099-B showing basis wasn’t reported to the IRS.

When generating the final tax return, TurboTax checks option C on form 8949, which is 

short-term/long-term transactions not reported to you on Form 1099-B, even though some of those transactions were reported on a 1099-B (without cost basis( from a cryptocurrency exchange without cost basis. Is this a problem when filing? I need to use the data from Bitcoin.tax as they contain my cost basis for those transactions.

Using Turbotax Premier Online

[GeorgeM777]

You do want your tax return to accurately reflect what is on your 1099-B, unless adjustments are required.   It is important to ensure that the gain/loss amounts reflected on your Form 8949 Sales and Other Dispositions of Capital Assets are correct.  Are they correct?  If yes, that is one less tax item to worry about.

You can make an adjustment to reflect whether basis was reported or not reported.  To do that, go back to your Investment sales summary page, and then select edit to re-review your transaction information.  In the Sales section drop down is where you can change how your cryptocurrency transactions were reported.    

@taxfilertoday

[taxfilertoday]

@GeorgeM777 I'm able to see this option for my transactions imported directly from my account for non-cryptocurrency transactions (under sales section, I can select short-term basis reported to IRS, ...), but I am not able to see this option for my cryptocurrency transactions. How would I enable this feature?

I have requested Turbotax Live help but nobody was able to answer my question after 5 tries (call always got disconnected somehow, or referred me to the same form to call another agent), some thought it was a bug or something related to crypto specifically.

[GeorgeM777]

Given that you have had more than several calls with Live Agents, and for some reason do not have the edit feature for your cryptocurrency transactions as you do have for your equity trades, there probably is no other explanation we can provide for the circumstance that you are confronting.  

However, let's check your capital gains/losses.  Does your return reflect the correct capital gain/loss from your equity and cryptocurrency trades? As it appears you are using TurboTax online, here are the steps to follow to review your Form 1040, and if applicable, Schedules 1, 2, and 3.

1. Sign back into your account
2. select any of the categories, such as Income & Expenses or Deductions & Credits,
3. from the left margin, select Tax Tools,
4. then select Tools,
5. at the pop-up window, select View Tax Summary,
6. in the left margin, select Preview my 1040,
7. review your Form 1040
8. select Back, left margin, to return back to where you left off. 

@taxfilertoday

[taxfilertoday]

@GeorgeM777 Yes, the amounts are correct and the basis/proceeds are reported correctly. The only thing wrong is that Turbotax checks box F instead of box E for long term gains (and box C instead of box B for short term gains).

How do I report this bug? Based on finding similar questions to this one on here and Reddit, this issue is unresolved for many users reporting cryptocurrency transactions on Turbotax.

[AmyC]

My program is holding the boxes but I am not concerned about your change since noncovered means the broker has no idea what your basis is versus not reported which really means nothing if you don't know the basis.

[taxfilertoday]

I see, I will allow Turbotax to keep box F checked then.