How to Fill Out Form 8949 for Crypto (2026): Boxes G-L, Columns and Codes

Not tax advice. US federal rules only, summarized from IRS guidance as of October 1, 2026.

Short version: List each crypto sale or swap on its own row of Form 8949. Short-term sales go in Part I under box G, H or I; long-term sales go in Part II under box J, K or L. Digital asset transactions “should not be reported using box C or F” (IRS Instructions for Form 8949). Enter proceeds in column (d), basis in (e), any correction as a code in (f) and an amount in (g), and the gain or loss in (h). Totals go to Schedule D.

Which revision this page follows

On October 1, 2026, IRS.gov carries the 2025 Instructions for Form 8949, which added “New boxes G, H, and I for short-term digital asset transactions” and “New boxes J, K, and L for long-term digital asset transactions” (i8949), and the 2026 Instructions for Form 1099-DA (i1099da). If a 2026 revision of the 8949 instructions appears before you file, check it for changes.

Pick the right box: G through L

Check only one box per Part I or Part II, and use as many copies as you need. The “Applicable checkbox on Form 8949” box on your 1099-DA may help you pick (i8949). Brokers fill it with code G, H, J or K, or with code Y when the holding period is unknown (i1099da).

Short-term generally means 1 year or less, and long-term generally means more than 1 year. You count from the day after you got the asset through the day you disposed of it (i8949).

What goes in columns (a) through (h)

All column rules below are from the Form 8949 instructions.

• (a) Description. For a digital asset, “include the full name or an abbreviated symbol of the digital asset and the exact units sold or disposed of in the transaction, and include the sale transaction ID number, if available.”
• (b) Date acquired. Box 1d of the 1099-DA may help. If you sold digital assets bought on several dates, you may enter “VARIOUS”. Short-term and long-term gains still go in separate parts.
• (c) Date sold or disposed of. Box 1e of the 1099-DA may help.
• (d) Proceeds. If you received a 1099-DA, enter the proceeds shown on it. With no form, enter net proceeds (gross proceeds minus selling expenses).
• (e) Cost or other basis. “The basis of a digital asset is the cost to acquire the digital asset, including transaction fees, commissions, transfer taxes, and other acquisition costs.” If the broker reported basis, enter the basis shown, even if it is wrong, and fix it in column (g).
• (f) Code. Letter codes explaining an adjustment, in alphabetical order with no spaces or commas.
• (g) Adjustment. The adjustment amount. Negative amounts go in parentheses.
• (h) Gain or loss. Column (d) minus column (e), then add or subtract column (g).

Adjustment codes that matter for crypto

Code B applies when “the basis shown in box 1e on Form 1099-B or box 1g on Form 1099-DA is incorrect” (i8949). How you fix it depends on the box:

• Box H or K (basis not reported to the IRS): put the correct basis in column (e) and enter -0- in column (g).
• Box G or J (basis reported to the IRS): keep the broker’s basis in column (e) and enter the difference in column (g), using the IRS Worksheet for Basis Adjustments (i8949).

Code E applies when “there are selling expenses, option premiums, or digital asset transaction costs that aren’t reflected on the form or statement by an adjustment to either the proceeds or basis shown” (i8949). Enter those costs as a negative number in column (g). Check the form first: brokers “must reduce the proceeds by digital asset transaction costs, including transaction fees, commissions, and transfer taxes related to the sale” (i1099da), so many fees are already netted out. Subtracting them again would understate your gain.

Two other codes come up: T when the short-term or long-term type in box 6 of the 1099-DA is wrong, and M when you put several transactions on one row under Exception 2 (i8949).

When you can skip Form 8949

Under Exception 1, you can put totals directly on Schedule D line 1a (short-term) or line 8a (long-term) instead of listing each transaction (i8949). For a 1099-DA, all of these must be true:

• The form shows basis was reported to the IRS.
• The form doesn’t show any adjustments in box 1h or 1i.
• The Ordinary box in box 6 isn’t checked.
• You don’t need to make any adjustments.
• No qualified opportunity fund deferral is involved.

The exception doesn’t cover sales of collectibles. Exception 2 is different: it lets you attach a statement in place of many rows, with “see attached statement” in column (a) and code M in column (f) (i8949).

Tax year 2025 vs. 2026 forms: who supplies basis

• 2025 sales: Brokers had to file a 1099-DA but were “not required to report basis information”, though they could report it voluntarily (2025 Instructions for Form 1099-DA). Under the 8949 box rules, a sale with no basis reported to the IRS goes in box H or K, and you enter your own basis in column (e) (i8949).
• Sales after 2025: Brokers must report basis for covered securities (i1099da). A covered security is a digital asset acquired after 2025 in a custodial account at that broker and held there until the broker sells it. Assets acquired before 2026, or transferred in from somewhere else, are noncovered securities (i1099da). For a noncovered asset, the broker may check box 9 and leave basis blank. You then supply the correct basis yourself (i1099da, i8949).

To rebuild basis from your records, use the free crypto cost basis calculator. For the broker form itself, see Form 1099-DA explained.

Worked example (hypothetical)

This is an invented example with round numbers for illustration. It does not describe a real person or a real account.

A filer has two 2026 sales at one US exchange, both on 1099-DAs.

1. Token A. Bought at the exchange in March 2026 and sold there in September 2026. The 1099-DA shows code G, proceeds of $12,000 and basis of $10,000, with box 2 checked. No adjustments are needed. This row qualifies for Exception 1, so the totals can go directly on Schedule D line 1a. Listed on 8949 instead, it would read: box G, (d) $12,000, (e) $10,000, (h) $2,000.
2. Token B. Bought in 2023 on another platform, transferred to the exchange and sold in June 2026. The 1099-DA shows code K, proceeds of $5,000 and box 9 checked, with no basis. The filer’s records show a basis of $3,000, including the purchase fee. The filer also paid a $15 transaction cost that the form does not reflect. On 8949 the row reads: Part II, box K, (d) $5,000, (e) $3,000, (f) E, (g) ($15), (h) $1,985.

If the filer had left column (e) blank on the Token B row, column (h) would show $5,000. That would overstate the gain by $3,000.

Step-by-step checklist

1. Collect every 1099-DA, plus your own records for wallets and platforms that sent no form.
2. Split sales into short-term and long-term, then sort them by box G-L.
3. Copy proceeds into column (d) exactly as shown on the form.
4. Fill column (e): the broker’s basis if box 2 is checked, otherwise your own records.
5. Add code B, E or T and the column (g) amount where needed.
6. Compute column (h), then carry the Part I and Part II totals to Schedule D. Rows that meet Exception 1 can go straight to line 1a or 8a (i8949).

The 1099-DA reconciler compares your 1099-DA with your own records and produces Form 8949 rows for boxes G-L with codes B and E. The preview is free. The export costs $19 per tax year at the early-bird price through January 31, 2027, then $29 per tax year. If you prefer full crypto tax software, Koinly is one option. We earn a commission if you sign up through this link.

Common mistakes

• Leaving basis blank. Column (h) is (d) minus (e), so a blank basis turns all proceeds into gain (i8949). Brokers are told to “Enter -0- in box 1g only if the digital asset sold actually had a basis of zero” (i1099da), so a blank box 1g is not a zero basis.
• Using box C or F for crypto. The IRS says not to. Use boxes G-L (i8949).
• Mixing boxes. Each Part I or Part II holds only one box type. If basis was reported, keep the broker’s figures and fix them in column (g) (i8949).
• Missing fees, or counting them twice. Basis includes acquisition fees. Code E covers transaction costs the form doesn’t reflect (i8949, i1099da).

FAQ

Do I need Form 8949 if I only sold crypto at one exchange? Not always. If the 1099-DA shows basis reported to the IRS and you meet every Exception 1 condition, totals can go directly on Schedule D (i8949).

What box do I use if the 1099-DA shows code Y? Code Y means the broker couldn’t determine the holding period (i1099da). Use your own records to decide short-term or long-term (i8949).

Is a crypto-to-crypto swap reported on 8949? Yes. In the IRS example, exchanging one digital asset for another results in a reportable capital gain (i8949).

Are staking rewards reported on 1099-DA? No. The instructions tell brokers: “Do not report rewards and staking payments on Form 1099-DA” (i1099da).

Where do 8949 totals go? To Schedule D. Complete Form 8949 before Schedule D lines 1b, 2, 3, 8b, 9 or 10 (i8949).

More guides: crypto tax hub · start here

Sources

• IRS, Instructions for Form 8949 (2025), page last reviewed or updated 30-Apr-2026, fetched October 1, 2026.
• IRS, Instructions for Form 1099-DA (2026), page last reviewed or updated 30-Apr-2026, fetched October 1, 2026.
• IRS, 2025 Instructions for Form 1099-DA (PDF, prior-year revision), fetched October 1, 2026.