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Cryptocurrency Reporting
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Joel V
Level 3
09-18-2023
11:11 AM
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My client did a small amount of crypto trading during the year. It was less than $600, not enough to trigger a 1099-B issuance from the provider. Without the 1099-B, how do I report the sale on form 8949? I can't type directly onto form 8949 without overriding; I have to link to another form which flows through to 8949, but obviously there is no other form in this case. Any assistance would be appreciated.
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qbteachmt
Level 15
09-18-2023
12:06 PM
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"It was less than $600, not enough to trigger a 1099-B issuance from the provider."
Are you trying to describe 1099-Misc or 1099-K? Because 1099-B is for transactions, and I'm not aware that there is a limit for reporting. Did your taxpayer even look to see if their provider has a form available to them online, or just assume there will be no form?
Are you aware of the pending 1099-DA?
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