How do I fill in the missing cost basis on my Form 1099-DA?

Below is the full transcript for the above video.

Up next, we’ll walk through one step on your way to get the best possible tax outcome. We’ll use your Digital Asset Gain or Loss CSV file to help fill in any missing cost basis information on your 1099-DA forms. We’ll take this one step at a time.

Before we get started, here’s something helpful to know. Some cost basis info may be missing from your 1099-DA forms. You can still file your return without it, but we recommend adding it. That will help ensure your gains or losses are calculated correctly and you don't overpay taxes.

First, make sure you have your Digital Assets Gain or Loss CSV file from TurboTax. If you don’t have it, that’s okay. You can find it anytime in the Documents section of TurboTax.

Next, open one of your 1099-DA forms. You’ll see a list of transactions, usually sales. Look for any transactions that are missing cost basis information, indicated by a zero. Now you’ll go through those transactions one at a time.

Select a transaction that needs review and choose Edit. Review details like the proceeds and date acquired, then find the matching transaction in your CSV file. Once you’ve found the matching transaction, then enter the cost basis value from the CSV file into the form.

You might notice that some numbers don’t match exactly between the CSV file and your 1099-DA. That’s normal and can happen because TurboTax and crypto providers calculate values a little differently. All you need to do is find the matching transaction and add the cost basis value for that transaction. Repeat for each transaction that needs review, and you’ll be all set.