Question
Turing bought and sold crypto several times during the year. He tries to log his transactions but isn't sure he got them all. He brought
Turing bought and sold crypto several times during the year. He tries to log his transactions but isn't sure he got them all. He brought you the information he has. As his tax preparer, how would you proceed? A. Use the transactions Turing is certain of and complete Form 8949. Use that information to prepare the return. B. Suggest that Turing make his best estimate of the missing transactions and report those amounts in addition to the transactions he is certain of. C. Suggest that Turing use a crypto calculator to gather the data needed to accurately report his transactions. D. Report the transactions Turing is certain about on Form 8949, using the records he provides. Then, attach an electronic filing note (e-file note) stating that the information provided is incomplete. The IRS will notify Yuri of any discrepancies.
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