Level 8

Solved

Bitcoin transactions

Forum|Forum|5 years ago
February 17, 2021
8 replies
46 views

Client included a Transaction Report from Coinbase reporting the sales and purchases of Bitcoin for 2020.

There is no Cost amount or purchase date on the sales. Checked IRS.gov but I'm still not sure how I figure the gain/loss and short or long term.

Any advice would be appreciated. Thanks.

ProSeries Professional

This topic has been closed for replies.

Best answer by dascpa

Coinbase does not supply us with the tax input information we need. The client needs to subscribe (and pay) for CoinTracker. That will give us Form 8949 information and makes life really easy.

rbynaker

Level 13

If the "Wallet" is not keeping track then you probably need to dump the entire account history into a spreadsheet.

https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions

T

The-Tax-LadyAuthor

Level 8

OK, I'll ask the client. Thanks.

P

pippagray

Level 2

Have you ever thought about the fact that some settings may be disabled in your account? And because of this, the transactions made by your client are not displayed.

BobKamman

Level 15

Why does this message board offer a spot to click for "Cheers," but not one for "Sympathy" ?

Just-Lisa-Now-

Intuit Community Champion

This post has been deleted.

Your post makes no sense, and your unsolicited link has been reported.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

dascpaAnswer

Level 11

Coinbase does not supply us with the tax input information we need. The client needs to subscribe (and pay) for CoinTracker. That will give us Form 8949 information and makes life really easy.

T

The-Tax-LadyAuthor

Level 8

Thanks for that info @dascpa.

Just-Lisa-Now-

Intuit Community Champion

This post has been deleted.

Reminder: Don't click unsolicited links in random posts, this one has been reported.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Sign up

Login with SSO

Let's get you signed in

Login with SSO