What should I do if my cryptocurrency transactions are not listed on a 1099 brokerage statement?

2 answers

• AlmaxAug 12, 2020 · 5 years ago
  If your cryptocurrency transactions are not listed on your 1099 brokerage statement, it's important to take the necessary steps to ensure you are in compliance with tax regulations. While cryptocurrency transactions may not be explicitly included on a 1099 form, you are still required to report them separately on your tax return. This can be done using IRS Form 8949 and Schedule D. Make sure to accurately report your gains or losses from cryptocurrency transactions to avoid any potential penalties or audits. It's always a good idea to consult with a tax professional for guidance specific to your situation.
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• Sina GhadriApr 01, 2022 · 3 years ago
  If your cryptocurrency transactions are not listed on your 1099 brokerage statement, it's possible that your brokerage does not support cryptocurrency trading or has not integrated it into their reporting system. In this case, you should reach out to your brokerage and inquire about how to report your cryptocurrency transactions separately. They may provide you with additional forms or instructions to ensure you can accurately report your gains or losses. If your brokerage is unable to assist you, consider consulting with a tax professional who specializes in cryptocurrency taxation for guidance.
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