Please note: All tax year reporting will show a DRAFT watermark until you have completed the End Tax Year process on the TradeLog file. Final tax reporting should always be generated after the End Tax Year process has been completed. |
Before Running the Report
Important: The Form 8949 for Digital Assets report includes only transactions entered in TradeLog that are identified as digital assets using the Type/Multiplier designation DCY-__. Transactions without this designation will not be included in this report.
- By default, the report includes digital asset gains and losses realized during the current tax year. You can change the Start and End dates if you need to report a different period.
- Form 8949 generally reports sales, exchanges, and other dispositions of digital assets held as capital assets. Other digital asset activity, such as mining, staking, rewards, or digital assets received as compensation, may require reporting elsewhere on your tax return.
Running the IRS Form 8949 for Digital Assets Report
For final tax reporting, the report should be run from the All Accounts tab when using a multi-account TradeLog file.
From the Reports menu, select Digital Assets
In the Digital Assets report menu, select Form 8949 for Digital Assets.
Adjust the report settings as desired.
G&L Start and End dates - These are set by default to only include gains and losses realized from January 1 through December 31 of the current tax year. If you wish to run this report for a smaller date range such as one month or one quarter of the year, you may change the Start and End dates appropriately.
Note the following key parts (numbered in the image above):
- If you would like to include the Summary Schedule D Instructions Page, check the box.
- If you would like to run the Form 8949 for Digital Assets, check the box.
Reviewing the Report
The IRS Form 8949 for Digital Assets report will display.
If selected, the Summary Schedule D Instructions Page will appear at the end of the report. It provides totals carried over from the Form 8949 for Digital Assets and identifies where those amounts are reported on Schedule D.
Important Information About Schedule D
The Schedule D totals shown on the Summary Schedule D Instructions Page represent only the digital asset transactions reported on your TradeLog Form 8949 for Digital Assets.
If you also have capital gains or losses from securities, you may need to combine these amounts with totals from your TradeLog Form 8949 for Securities. You may also have other capital gains or losses from additional tax forms or sources that must be included when completing Schedule D.
The TradeLog Form 8949 for Digital Assets does not replace your Form 8949 for Securities or account for digital asset transactions that have not been entered and properly classified in TradeLog.
For additional information about tax filing options, please refer to User Guide Step 8 – Filing Your Taxes.
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