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Form 8949 Crypto transactions

jhbvtacpa
Level 5

My client just gave me 21 Form 8949's that were given to him by Coinbase. 

Over 300 individual transactions. All short-term transactions, none were reported on a Form 1099-B

Any thoughts as far a reporting?

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Just-Lisa-Now-
Level 15
Level 15

Sch D, 1099B worksheet, summarize into 1 transaction since therye all short term.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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5 Comments 5
jeffmcpa2010
Level 11

Well  IF I decided to deal with clients who were active in digital currencies, I would probably put the totals of the coinbase pages in as one entry, and attach a pdf of the detail pages.

Again. That's a big IF at this point in my life.

Skylane
Level 11
Level 11

Summarize and attach

If at first you don’t succeed…..find a workaround
Just-Lisa-Now-
Level 15
Level 15

Sch D, 1099B worksheet, summarize into 1 transaction since therye all short term.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
jhbvtacpa
Level 5

Would you attach the 8949's?

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Just-Lisa-Now-
Level 15
Level 15

Personally I wouldnt, but lots of people do, the chances of any human ever laying eyes on the attachment, is slim to none.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪