Taxpayers with gains or losses must detail their gains and losses across a few different forms. The most granular of these forms is the IRS Form 8949.
Form 8949 captures the details of every sale triggering a gain or loss. The details supporting the final calculation, include, but are not limited to, asset identity, date acquired, date sold, proceeds, cost basis, short versus long term, and gain or loss.
Form 8949 must consolidate all transactions that feed into the Schedule D: capital gains/losses, across securities and crypto transactions the go onto Form 8949. Users can prepare as many Form 8949s as they want; they all roll up to a Schedule D.
Customers who file their own taxes likely need to fill out a Form 8949 with all their gain/loss activity. The IRS publishes an editable PDF.
Customers who file with a filing software such as TurboTax or H&R Block often do not need to fill out provide this form themselves, since the software takes care of this form.
Customers who file with a CPA may be asked for a pre-filled 8949. If you're eligible for the Form 8949 from Coinbase, it will be pre-filled.
Currently, Coinbase One subscribers are eligible for a pre-filled Form 8949. The Form 8949 is available back through tax year 2021.