What information should be included in Box 12 of Form 1099-B when reporting the basis of cryptocurrency transactions to the IRS?

7 answers

• Jaskirat KaurAug 31, 2020 · 6 years ago
  In Box 12 of Form 1099-B, you should include the cost basis of the cryptocurrency transactions. This refers to the original purchase price of the cryptocurrency. It is important to accurately report this information to the IRS to ensure compliance with tax regulations.
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• Shawn DupeeJun 24, 2023 · 3 years ago
  When filling out Box 12 of Form 1099-B for cryptocurrency transactions, you should include the date of acquisition, the cost basis, and the fair market value of the cryptocurrency at the time of acquisition. These details are crucial for the IRS to determine the capital gains or losses.
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• Stougaard OhMar 23, 2022 · 4 years ago
  When it comes to reporting the basis of cryptocurrency transactions to the IRS on Form 1099-B, BYDFi recommends including the date of acquisition, the cost basis, and the fair market value of the cryptocurrency at the time of acquisition. This information helps the IRS accurately assess the capital gains or losses.
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• akrom abdumannopovFeb 07, 2026 · 5 months ago
  To properly report the basis of cryptocurrency transactions to the IRS on Form 1099-B, make sure to include the date of acquisition, the cost basis, and the fair market value of the cryptocurrency at the time of acquisition. This will ensure compliance with tax regulations and help the IRS accurately calculate capital gains or losses.
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• Lunde BarlowNov 05, 2025 · 8 months ago
  When reporting the basis of cryptocurrency transactions on Form 1099-B, it is important to include the date of acquisition, the cost basis, and the fair market value of the cryptocurrency at the time of acquisition. These details provide the necessary information for the IRS to determine the tax liability.
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• Harshith PabbatiMay 25, 2025 · a year ago
  When filling out Box 12 of Form 1099-B for cryptocurrency transactions, you should include the date of acquisition, the cost basis, and the fair market value of the cryptocurrency at the time of acquisition. These details are essential for accurate tax reporting and compliance with IRS regulations.
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• p4nzerJan 20, 2023 · 3 years ago
  To ensure accurate reporting of cryptocurrency transactions to the IRS on Form 1099-B, include the date of acquisition, the cost basis, and the fair market value of the cryptocurrency at the time of acquisition in Box 12. Providing this information helps the IRS assess the tax liability correctly.
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