Otherwise if you sold it, you need to report your gains and losses. Taxation is theft (not legal advice)Fun fact, the guide I read on CoinTrackers support page showed a 'TurboTax CD' download option which I presume would dow. And I think the only time you don’t need to file if you didn’t sell your crypto, so like if you’re holding it still. Take what you will from this since I’m not even quite sure if I did it right 100% but I finished filing my taxes last night lol. so for the Total losses and gain section, you would just report it through the 1099-b through your tax program/software on your own since coinbase isn’t sending out a it’s own 1099-b form if that makes sense. See the TurboTax instructions that will pop up. Use the summary option and then you can mail in the printout of the CSV files. Put a header with your name tax year and SS Number. Adjust your csv files so the columns are in the same order as on Form 8949. And in that spot if you had interested earned more than $600 you will get the 1099-miscellaneous form. If TurboTax wont accept your CSV file, proceed as follows. The IRS does not require them to file a 1099-MISC under 600. And then another section where it has a interesting income from crypto for how long you hold it you earned more interest/money. Outside of trading, the 1099-misc is not filed to the IRS or you if its less than 600. And for my understanding of coinbase is that there’s one section where it has your total gains and losses. Took me awhile to fill it out, it was confusing af or either that I’m just pretty dumb/slow to figure it out. Robinhood sent me a 1099-B and I just reported all that. I think I narrowed it down though, i used both robinhood and coin-base from these I made losses and gains. I did come across some forums that were saying you didn’t need to report your gains if it was under $600 or whatever but, I’d rather play it safe and just report it anyways just in case it could become a pain in the ass later. Yess! When I was searching through Reddit and watching some YouTube tax crypto videos.
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