Re:The IRS collects data on Coinbase account holders
by otoburb on Friday March 16, 2018 @04:36PM
(#16603850)
>>Or, in the alternative, you could look again.
I checked again, and you're right. Interactive Brokers is the only platform I still infrequently use but it does have a list of pre-filled tax forms available for download. Worksheet 8949 is also pre-filled, but this is probably where one would need to submit a revised version if previous cost-basis amounts need to be adjusted as in the specific edge cases we're talking about above.
Coinbase seems to have sent 1099-K documents to eligible customers which isn't as detailed as 1099-Bs since I believe the Ks only report gross transaction volumes over $20K[1].
[1] https://www.irs.gov/businesses/understanding-your-1099-k
Re:The IRS collects data on Coinbase account holders
by jmalicki on Friday March 16, 2018 @10:30PM
(#16605310)
Your memory may be due to this information being new as of 2011 for most brokers.
https://www.irs.gov/businesses/small-businesses-self-employe...
Re:The IRS collects data on Coinbase account holders
by sbierwagen on Friday March 16, 2018 @10:14PM
(#16605263)
First result for "schwab 1099-B": https://www.schwab.com/public/schwab/investing/retirement_an...
You should probably call the IRS tipline and say "I think [Schwab] isn't filing their 1099-Bs, you know the thing which reports cost bases and short-term/long-term capital gains for retail investors, and accordingly they're on the hook for billions of dollars of penalties, but to keep the math easy just write me a check for a billion dollars rather than what the law actually says you owe me for this hot tip."
Or, in the alternative, you could look again.