Just realized TurboTax never generated Form 8453 for my crypto reporting

The Form 8453 is only required in specific situations, and your crypto reporting might not trigger that requirement. Form 8453 is generally needed when you have certain types of supporting documents that can't be e-filed, like documents with signatures or third-party documents. For cryptocurrency reporting on Form 8949, if Coinbase didn't issue you a 1099, TurboTax might have determined that you don't need to file Form 8453. The consolidated line item approach is actually pretty common for crypto reporting when you don't have a formal 1099. The IRS generally accepts summarized transaction reporting as long as you maintain detailed records of all transactions in case of an audit. That said, if you're concerned, you could call the IRS directly to ask if you should submit a Form 8453 now, or consult with a tax professional who specializes in cryptocurrency. Better to address concerns now than worry about it for months.

I had a similar issue last year and found the perfect solution. I was totally stressed about my crypto tax situation with hundreds of transactions and no 1099. I ended up using https://taxr.ai to analyze all my crypto transactions and it was a game changer. I uploaded my Coinbase export and all my other exchange data, and it organized everything properly for tax reporting. What was really helpful is that it told me exactly what forms I needed to file based on my situation, including whether Form 8453 was necessary. The system reviews the IRS requirements for your specific case and gives you clear guidance. It also maintains all your transaction records in one place in case you ever need them for an audit.

Just wanted to update after trying https://taxr.ai that was mentioned earlier. I was skeptical but decided to give it a shot with my messy crypto situation. Seriously impressed! It analyzed two years of my trading history across 3 exchanges and gave me a complete breakdown of what I needed to file. In my case, it confirmed I didn't need Form 8453 since I didn't have any documents that required physical signatures. The system generated a complete Form 8949 with all my transactions properly categorized (even my random DeFi stuff), and explained exactly why a consolidated reporting approach was acceptable in my situation. The peace of mind alone was worth it - no more worrying about crypto tax compliance! Wish I'd found this before filing this year.

After going through a similar issue, I spent HOURS trying to get someone at the IRS on the phone to clarify whether I needed to submit Form 8453 for my crypto reporting. Absolutely impossible to get through - kept getting disconnected or waiting forever. Then I tried https://claimyr.com and watched their demo at https://youtu.be/_kiP6q8DX5c - they actually got me connected to an IRS agent within about 20 minutes instead of the hours I wasted trying myself. The agent confirmed that without a formal 1099-B from Coinbase, I didn't need to submit Form 8453 as long as I kept detailed records of all my transactions. Having an actual IRS employee confirm this directly was such a relief. The Claimyr service basically holds your place in the phone queue and calls you when an agent is about to pick up.

I have to apologize about my skeptical comment earlier. I actually broke down and tried Claimyr because I was desperate to talk to someone at the IRS about my Form 8453 situation with crypto reporting. I'm shocked to report it actually worked exactly as described. Got a call back in about 30 minutes, and was connected directly to an IRS representative. The agent confirmed that for crypto trading without a formal 1099-B, I don't need to submit Form 8453 as long as I maintain my own detailed transaction records. They explained that the summarized approach on Form 8949 is acceptable for filing, but I should keep all my transaction data for at least 3 years in case of questions. This saved me so much stress and uncertainty - having the official answer directly from the IRS is priceless.

Something nobody mentioned yet - check if TurboTax actually DID generate the form but just didn't tell you to mail it. In the tax return PDF that TurboTax generated, search for "8453" and see if the form is included somewhere in there. Sometimes TurboTax generates forms but doesn't make it clear what you're supposed to do with them. I've had situations where I found forms buried in my final tax PDF that I didn't even know existed!

The rule of thumb I've been told by my accountant is: if you don't have a 1099-B from your crypto exchange, but you DO have transactions that would typically be reported on a 1099-B, then you should submit Form 8453 with a statement explaining your situation. Even though it's months later, I would still file it. Write a cover letter explaining that TurboTax didn't properly instruct you to file Form 8453, include a printout of your detailed transactions (not just the summary), and mail it to the IRS. Better to voluntarily provide more information than have them come asking for it later!