Are there any specific rules or guidelines for reporting the adjusted cost basis of digital assets on a 1099-B?

7 answers

• rubytuesJul 25, 2025 · 7 months ago
  When reporting the adjusted cost basis of digital assets on a 1099-B form, there are several rules and guidelines that need to be followed. Firstly, it is important to accurately calculate the adjusted cost basis by taking into account any fees or commissions paid during the acquisition of the assets. Additionally, any capital gains or losses should be reported on Schedule D of the tax return. It is also crucial to keep detailed records of all transactions and provide supporting documentation if requested by the IRS.
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• Lethargic DeveloperSep 30, 2023 · 2 years ago
  Reporting the adjusted cost basis of digital assets on a 1099-B form requires adherence to specific rules and guidelines. It is necessary to accurately determine the cost basis by considering any transaction fees or expenses incurred. Capital gains or losses should be reported on Schedule D of the tax return. Maintaining thorough records of all transactions is essential, and it is advisable to consult with a tax professional to ensure compliance with the latest regulations.
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• Rachel AndersonFeb 12, 2022 · 4 years ago
  When it comes to reporting the adjusted cost basis of digital assets on a 1099-B form, it is crucial to follow the rules and guidelines set forth by the IRS. These guidelines include accurately calculating the cost basis by considering any fees or expenses associated with the acquisition of the assets. Capital gains or losses should be reported on Schedule D of the tax return. It is recommended to keep detailed records of all transactions and consult with a tax advisor for specific guidance.
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• Hector GorunSep 16, 2025 · 5 months ago
  As a representative of BYDFi, I can confirm that there are specific rules and guidelines for reporting the adjusted cost basis of digital assets on a 1099-B form. It is important to accurately calculate the cost basis by taking into account any fees or commissions incurred during the acquisition of the assets. Capital gains or losses should be reported on Schedule D of the tax return. Keeping thorough records of all transactions is essential to ensure compliance with IRS regulations.
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• Hamza ElgaherAug 31, 2020 · 5 years ago
  When reporting the adjusted cost basis of digital assets on a 1099-B form, it is necessary to follow the rules and guidelines provided by the IRS. These guidelines include accurately calculating the cost basis by considering any transaction fees or expenses. Capital gains or losses should be reported on Schedule D of the tax return. It is advisable to maintain detailed records of all transactions and seek professional advice if needed to ensure proper reporting.
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• Flores LauApr 20, 2024 · 2 years ago
  Yes, there are specific rules and guidelines for reporting the adjusted cost basis of digital assets on a 1099-B form. It is important to accurately calculate the cost basis by taking into account any fees or commissions paid during the acquisition of the assets. Capital gains or losses should be reported on Schedule D of the tax return. Keeping detailed records of all transactions is crucial to ensure compliance with IRS regulations.
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• ianfish214Oct 03, 2020 · 5 years ago
  Reporting the adjusted cost basis of digital assets on a 1099-B form requires following specific rules and guidelines. It is necessary to accurately calculate the cost basis by considering any transaction fees or expenses. Capital gains or losses should be reported on Schedule D of the tax return. Maintaining detailed records of all transactions is essential to ensure compliance with IRS regulations and avoid any potential penalties or audits.
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