As a participant in the TaxBit Network, Cash App provides free Form 8949 tax statements and support for users through TaxBit.
To create your Form 8949, following these simple steps below after logging into or creating your TaxBit account.
Please Note: Cash App provides a 1099-B form. For this year, the 1099-B form only includes the proceeds, or sales amount, of your Bitcoin sales during the year. It does not include the amounts of your cost basis (what was paid) for that Bitcoin.
By uploading your Cash App transaction history CSV into TaxBit, you can generate a Form 8949 that provides both sales proceeds and cost basis information to accurately file your tax return.
From your Cash App account
Note the CSV from Cash App will be available for download around February 14th.
Step 1: From the home page on Cash App, go to “Settings” then look for “Bitcoin” under the Taxes section
Step 2: Download the “Transactions CSV” to your browser. This CSV will be imported into TaxBit to create your Form 8949. Two important notes on these options:
Please Note: The most recent Transactions CSV will include all transactions from the year identified, and any historical years. There is no need to download one file for every year.
From your TaxBit account:
Please Note: If you have previously uploaded a Cash App CSV into TaxBit, you should open the CSV and remove any transactions previously uploaded into TaxBit. This will prevent duplicates from prior uploads.
Step 1: Select "Add Sources" from the left-hand menu.
Step 2: In the search bar, search and select "Cash App".
Step 3: Upload your Cash App CSV file by either dragging it into the select field, or by clicking "browse files" and selecting it from your device.
Step 4: Click "Add transactions" to import.
Step 5: Your Cash App transactions will appear on the "Transactions" page (found on the left side panel) once your CSV import is complete. This may take several minutes to process.
Step 6: After connecting any other data sources, you can download your Form 8949 from the “Taxes” tab on the left panel.
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