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Bitcoin transactions

Level 8

Client included a Transaction Report from Coinbase reporting the sales and purchases of Bitcoin for 2020.

There is no Cost amount or purchase date on the sales. Checked IRS.gov but I'm still not sure how I figure the gain/loss and short or long term. 

Any advice would be appreciated. Thanks. 

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2 Replies 2
Level 11

If the "Wallet" is not keeping track then you probably need to dump the entire account history into a spreadsheet.

https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-curren...

 

Level 8

OK, I'll ask the client. Thanks.

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