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rosspgold
New Member

When I upload my 1099-B from Coinbase it is asking me to verify 841 transactions manually. That is impossible. Also it only has the proceeds and not the cost.

Even if I upload a CSV it doesnt even have all the information on it. How can I possibly go through almost 1000 transactions most of which are just converting and not purhcases.
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3 Replies
DavidD66
Expert Alumni

When I upload my 1099-B from Coinbase it is asking me to verify 841 transactions manually. That is impossible. Also it only has the proceeds and not the cost.

You are responsible for tracking your cryptocurrency purchases, sales, exchanges, air drops, and forks.  Coinbase is not required to track and provide anything other than your sales proceeds.  In order to file an accurate tax return you will need to research your cost basis for each taxable transaction and report it.  Going forward, there are services that will track the information for you.  You provide them a link to your Coinbase (or other) account, and they track cost basis, gains, losses, etc.

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When I upload my 1099-B from Coinbase it is asking me to verify 841 transactions manually. That is impossible. Also it only has the proceeds and not the cost.

IRS only requires you to report SELL transactions on your tax return.

 

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. 

 

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

Then you would avoid mailing.

When I upload my 1099-B from Coinbase it is asking me to verify 841 transactions manually. That is impossible. Also it only has the proceeds and not the cost.

conversions from one crypto to another is a sale.

 

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