Transaction Types - US & MRDP Reporting

Taxbit supports the transaction types and subtypes included in the table below. Each type has a specific tax treatment, including the cost basis that is applied, and the form type the transaction will be reported on.

Transaction Type	Transaction Subtype	Form Type	Basis
Income	Rent	1099-MISC - Rent (Box 1)	FMV
	Royalties	1099-MISC Royalties (Box 2)
	Airdrop	1099-MISC Other Income (Box 3)
	Interest-Crypto-Backed
	Referral-Bonus
	Reward
	Staking-Reward
	Other
	N/A
	Medical Payment	1099-MISC – Medical and healthcare payments (Box 6)
	Gross-Proceeds-Paid-to-an-Attorney	1099-MISC – Gross proceeds paid to an attorney (Box 10)
	NEC	1099-NEC – Nonemployee compensation (Box 1) & MRDP
	Payment-Goods	1099-K & MRDP
	Payment-Services
	Interest-Fiat-Backed	1099-INT – Interest income (Box 1)
Expense	N/A	1099-DA Only if expensing a digital asset	N/A
Trade	N/A	1099-DA	FMV
Sell	N/A	1099-DA	N/A
Buy	N/A	N/A	FMV
Deposit	N/A		Unknown Unless customer-provided basis information is provided
	ACH
	Debit
	Blockchain
	Cost-Basis-FMV		FMV
	Gift		FMV, Donor’s Basis, or Unknown Requires the transaction ID of Withdraw
	Inheritance		FMV Including long-term holding period
	Internal-Personal		Original basis Requires the transaction ID of Withdraw
	Card-Reward		Zero
Withdraw	N/A		N/A
	ACH
	Blockchain
	Gift
Stake	N/A		N/A
Unstake	N/A		N/A
Cost-Basis-Transfer	Asset-Name-Change		Original basis
	Wrapping		Original basis
Adjustment	N/A		N/A
Contribution	Standard	5498	N/A
	Postponed
	Recharacterization
	Conversion
	Rollover
	Late Rollover
Distribution	N/A	1099-R	N/A

Please note: Most of the transactions listed above may be reportable on a Form 1099-B/DA to the extent there is a digital asset fee on the transaction.