For those of you out there who traded bitcoin and prefer doing your own taxes through turbox tax may find the following fairly useful. This is a response from a page on their forums. I’m providing the important points here and a link at the bottom:
[pastacode lang=”markdown” manual=”I’d%20guess%20you%20didn’t%20get%20a%201099-B%20for%20those%20trades.%0A%0AUse%20the%20%22Stocks%2C%20Mutual%20Funds%2C%20Bonds%2C%20Other%22%20interview%20telling%20TurboTax%20that%20no%201099-B%20was%20received.%0AUse%20the%20%22Everything%20else%22%20investment%20type.%0AMake%20sure%20your%20list%20reports%20the%20same%20information%20that%20a%20Form%208949%20would%20report%2C%20separated%20between%20long%20term%20and%20short%20term%20holdings%2C%20with%20dollar%20subtotals%20for%20each%20term%3A%0A%0AWhat%20was%20sold%0ADate%20of%20sale%0AProceeds%20of%20sale%0ACost%20basis%0ADate%20of%20acquisition%0A%0A%0AOn%20the%20page%20%22Some%20Basis%20Info%20About%20This%20Sale%22%20enter%20%22Summary%20of%20ST%20Crypto%20Currency%20Trades%20%22%20or%20%22Summary%20of%20LT%20Crypto%20Currency%20Trades%22%20depending%20which%20group%20you’re%20working%20on.%20Enter%20the%20total%20dollar%20amount%20of%20proceeds%20for%20each%20group%20as%20appropriate%20and%20you%20can%20use%2012%2F31%2F2017%20for%20date%20of%20sale.%0A%0AOn%20the%20%22Tell%20Us%20How%20Your%20Acquired%20This%20Property%22%20page%20tick%20%22Purchased%22.%0AOn%20the%20%22Enter%20Purchase%20Information%22%20page%20enter%20the%20summary%20cost%20and%20the%20word%20%22various%22%20in%20the%20Date%20of%20Purchase%20box.%0AOn%20the%20%22When%20Was%20This%20Investment%20Acquired%22%20page%20you’ll%20answer%20%22Yes%22%20for%20the%20long%20term%20trades%20and%20%22No%22%20for%20the%20short%20term%20trades.%0A%0AIf%20you’re%20mailing%20in%20your%20income%20tax%20returns%20you%20can%20include%20your%20manipulated%20substitute%20for%20a%20Form%208949%20as%20part%20of%20your%20filing%20though%20I’d%20add%20%22See%20Schedule%22%20to%20your%20descriptions%20of%20what%20was%20sold.%0A%0AIf%20you%20are%20e-filing%20your%20tax%20return%2C%20then%20mail%20your%20statements%20along%20with%20Form%208453%20to%3A%0A%0A%20Internal%20Revenue%20Service%0A%20Attn%3A%20Shipping%20and%20Receiving%2C%200254%0A%20Receipt%20and%20Control%20Branch%0A%20Austin%2C%20TX%2073344-0254%0A%0AForm%208453%3A%20https%3A%2F%2Fwww.irs.gov%2Fpub%2Firs-pdf%2Ff8453.pdf” message=”” highlight=”” provider=”manual”/]
I just wanted to capture these instructions in case that page every gets removed. It’s important to keep a record 🙂