US Tax Reports

Overview

After completing your tax calculations, PrivateACB generates comprehensive tax reports that help you file your US federal income taxes accurately. This guide explains how to access, view, and export the tax reports you need for IRS compliance.

What you’ll learn:

• How to access your calculated tax reports
• What each report shows and why it matters
• How to export reports to PDF or CSV
• How to use these reports for your tax filing

Prerequisites: You must have completed a tax calculation first (see US Tax Calculation Guide)

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Available US Reports

PrivateACB provides 6 report types for US tax filers:

Report Name	Purpose	IRS Form	Required?
Form 8949	Individual sales transactions	Form 8949	Yes (if you sold crypto)
Schedule D	Capital gains/losses summary	Schedule D	Yes (if you sold crypto)
Income Report	Income from mining/staking	Schedule C or Schedule 1	Yes (if you have crypto income)
Lot Tracking	Active tax lots breakdown	N/A	No (for your records)
Wash Sale Report	Denied loss details	N/A	No (supporting documentation)
Audit Provenance	Comprehensive audit provenance	N/A	No (audit defense)

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Accessing Tax Reports

Step 1: Navigate to the Reports Tab

1. Open your PrivateACB database
2. Click the Reports tab in the top navigation bar
3. The Reports interface opens with a sidebar on the left and a report viewer on the right

Step 2: Select Jurisdiction

In the sidebar, click United States in the jurisdiction toggle at the top.

Step 3: Select Tax Year and Method

Below the jurisdiction toggle:

1. Use the Tax Year dropdown to select the year you’re filing for (e.g., 2024). Each year shows an asset count to help identify which years have data.
2. Use the Method dropdown to select your cost basis method: FIFO, LIFO, or HIFO. This filters the report data to jobs calculated with that method.

Step 4: Select a Report Type

In the Reports section of the sidebar, click any report name to expand it. You’ll see two selection options for most reports:

Aggregate mode — Combines data from all calculated assets into one report. This is what you typically want for tax filing.

Individual job mode — Shows data for a single asset’s calculation. Use this for per-asset analysis.

Which mode to use:

• Form 8949, Schedule D, Income Report, Wash Sale: Start with Aggregate for your tax filing. Use Individual for per-asset analysis.
• Lot Tracking, Audit Provenance: These always require selecting an individual job (a specific asset’s calculation).

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Understanding Each Report

Form 8949 — Sales and Other Dispositions of Capital Assets

Purpose: Report every individual cryptocurrency sale/trade to the IRS IRS Form: Form 8949 Required: Yes, if you sold or traded cryptocurrency in the tax year

What it shows:

• Part I (Short-term): Disposals held 1 year or less
• Part II (Long-term): Disposals held more than 1 year
• For each transaction: description, dates, proceeds, cost basis, adjustments, gain/loss

Form 8949 columns:

Column	Description
(a) Description	Quantity and asset (e.g., “0.5000 BTC”)
(b) Date acquired	When you bought this specific lot
(c) Date sold	When you sold/traded it
(d) Proceeds	Sale amount
(e) Cost basis	What you paid (per your lot selection method)
(f) Code	Adjustment code (e.g., “W” for wash sale)
(g) Adjustment	Amount of adjustment
(h) Gain/Loss	Proceeds minus cost basis plus adjustments

Box categorization (2025 and later):

Starting with tax year 2025, Form 8949 transactions are grouped into box categories (G/H/I for short-term, J/K/L for long-term) based on whether your exchange issued a 1099-DA form and whether cost basis was reported. For 2024 and earlier, the simpler Box C (short-term) and Box F (long-term) apply.

See the 1099-DA & Account-by-Account Guide for the complete box category tables and how to configure your exchange 1099-DA status.

How to use Form 8949:

1. Review each transaction for accuracy
2. Check that all sales/trades are included
3. Note the totals at the bottom of each part
4. Transfer totals to Schedule D
5. Export to PDF and attach to your Form 1040

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Schedule D — Capital Gains and Losses

Purpose: Summarize total capital gains/losses and calculate tax liability IRS Form: Schedule D (Form 1040) Required: Yes, if you sold or traded cryptocurrency

What it shows:

• Part I: Short-term gains/losses (from Form 8949 Part I), with columns (d) Proceeds, (e) Cost Basis, (g) Adjustments, and (h) Gain or Loss per line item
• Part II: Long-term gains/losses (from Form 8949 Part II), same columns
• Part III: Net capital gain/loss (Line 16 = Line 7 + Line 15)

Schedule D is available in both modes: Aggregate (all assets combined — typical for filing) and Individual (single asset — for per-asset analysis).

IRS line numbers PrivateACB populates:

Part	Line	Description
I	1b, 2, 3	Form 8949 box totals (short-term). For ≤2024: Line 3 only
I	6	Short-term capital loss carryover
I	7	Net short-term capital gain or (loss)
II	8b, 9, 10	Form 8949 box totals (long-term). For ≤2024: Line 10 only
II	14	Long-term capital loss carryover
II	15	Net long-term capital gain or (loss)
III	16	Combined net (Line 7 + Line 15)

Line-level breakdown (2025 and later):

For tax year 2025+, Schedule D breaks down each part by Form 8949 box (Lines 1b/2/3 for short-term, Lines 8b/9/10 for long-term). For 2024 and earlier, only Line 3 (short-term) and Line 10 (long-term) are used. See the 1099-DA & Account-by-Account Guide for the full line-by-box mapping.

Tax rates (for reference):

• Short-term gains: Taxed as ordinary income (10%-37%)
• Long-term gains: Taxed at preferential rates (0%, 15%, or 20% based on income)
• Capital losses: Deductible up to $3,000/year ($1,500 married filing separately). Excess carries forward to future years indefinitely. PrivateACB calculates and displays this limit automatically.

How to use Schedule D:

1. Verify totals match Form 8949
2. Note the net capital gain/loss
3. Transfer to Form 1040, Line 7a

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Income Report — Mining, Staking, and Airdrops

Purpose: Report cryptocurrency income (not capital gains) IRS Forms: Schedule C (self-employment) or Schedule 1, Line 8z (other income) Required: Yes, if you earned cryptocurrency from mining, staking, rewards, or airdrops

What it shows:

• Every income transaction (mining, staking, airdrops, rewards, interest, dividends, cashback, bonuses, referrals, forks, realized PnL)
• Date received, quantity, fair market value in USD, income category
• Summary totals by category

How to report income:

• Mining as a business: Report on Schedule C (can deduct expenses)
• Casual/hobby income: Report on Schedule 1, Line 8z
• Staking: Usually Schedule 1, Line 8z

Important IRS rules:

• Income is valued on the date received, not when you sell
• The FMV becomes your cost basis for that crypto
• Staking rewards are taxable in the year received (Rev. Rul. 2023-14)

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Lot Tracking Report — Active Tax Lots

Purpose: Detailed breakdown of cryptocurrency you currently own, lot by lot IRS Form: None (for your own records) Selection: Requires selecting an individual job (specific asset)

What it shows for each lot:

• Acquisition date
• Original and remaining quantity
• Cost per unit and total cost basis
• Holding period (days)
• Short-term or long-term classification
• Account (if account-by-account tracking is enabled for 2025+)
• Status: Active or Exhausted

Summary totals:

• Total lots (active and exhausted)
• Total cost basis
• Short-term vs. long-term breakdown

How to use it:

1. See exactly what you own and what you paid, lot by lot
2. Plan future sales — identify which lots will be consumed next based on your method
3. Tax planning — long-term lots (held > 365 days) get lower tax rates
4. Verify calculations against your exchange records

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Wash Sale Report

Purpose: Detailed breakdown of denied capital losses IRS Form: None (supporting documentation for Form 8949) Relevance: Only contains data if you enabled the wash sale rule in the ACB Calculator’s Config Bar

What the report shows:

• Each wash sale transaction
• Original loss amount
• Denied loss (100% in US — not prorated like Canada)
• Replacement purchase details
• Cost basis adjustment on the replacement lot

How to use it:

1. Review to understand why losses were denied
2. Note that denied losses increase your replacement lot’s cost basis (loss is deferred, not eliminated)
3. Export for your records in case of IRS audit

If wash sale rule is disabled (default): This report will be empty. For details on how wash sales work, see the Wash Sale Guide.

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Audit Provenance — Comprehensive Audit Provenance

Purpose: Complete audit documentation showing data lineage and calculation methodology IRS Form: None (for audit defense) Selection: Requires selecting an individual job (specific asset)

The Audit Provenance report has 6 collapsible sections (7 for US filers with Account-by-Account enabled):

Section	Content
Data Sources	Which imports and exchanges contributed to this calculation
Import Trail	Details of each import — file names, row counts, validation
Calculation Metadata	Parameters used — method, tax year, account-by-account settings
Reconciliation	Data integrity checks — transaction counts match, no orphaned records
Rule Applications	Tax rules applied and decisions made (wash sale triggers, lot selections)
System Events	Timestamped log of all operations during calculation
Account-by-Account Basis	(US 2025+ only) Lot snapshot by account, transfer lot movements, regulatory compliance statement (T.D. 10000)

How to use it:

• Keep for 7 years (IRS statute of limitations)
• If IRS questions your calculations, this proves methodology and data lineage
• Shows you used a consistent lot selection method
• Demonstrates all transactions were included and validated

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Exporting Reports

Export Formats

• PDF — Professional documents for filing and printing. Headers, footers, metadata included.
• CSV — Spreadsheet format for analysis in Excel/Google Sheets or importing into tax software.

How to Export

1. Select and view the report
2. Click “Generate Report (PDF)” or “Export Data (CSV)” inside the report viewer
3. Choose save location in the dialog
4. File is saved with an auto-generated name (e.g., Form8949_US_BTC_2024_2026-02-15.pdf)

Trial vs. Licensed

Feature	Trial	Licensed
View reports	Yes	Yes
Export PDF/CSV	No (locked)	Yes
Copy report data	No (protected)	Yes

A US license unlocks US report exports. A Combined license unlocks both US and Canadian exports.

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Common Scenarios

Scenario 1: First-Time Filing

Steps:

1. Go to Reports, select United States, tax year 2024, method (e.g., FIFO)
2. Click Form 8949 > Aggregate — Review all transactions, export to PDF
3. Click Schedule D — Verify totals match Form 8949, export to PDF
4. Click Income Report — If you have mining/staking income, export to PDF
5. Click Audit Provenance for each asset — Export for your records (keep 7 years)

File with IRS:

• Form 8949 + Schedule D attached to Form 1040
• Income on Schedule C (business) or Schedule 1, Line 8z

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Scenario 2: HIFO to Minimize Taxes

Steps:

1. View Lot Tracking — See which lots remain (lowest-cost lots should still be active)
2. View Form 8949 — Verify cost basis for each sale is from the highest-cost lots
3. View Schedule D — Compare net gain to what FIFO would have produced

Higher cost basis = lower capital gains = lower taxes. HIFO is especially effective in rising markets.

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Scenario 3: Wash Sales

Steps:

1. View Form 8949 — Look for Code “W” in the adjustment column
2. View Wash Sale Report — See each denied loss and replacement lot adjustment
3. View Lot Tracking — Verify replacement lots have increased cost basis

Denied losses are deferred, not eliminated. The increased cost basis on replacement lots means lower future gains.

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Scenario 4: IRS Audit Request

Steps:

1. Export Form 8949 and Schedule D for the questioned tax year
2. Export Audit Provenance for each questioned asset — shows complete data lineage
3. Export Lot Tracking — shows current holdings and cost basis
4. Send all reports with a cover letter explaining your consistent methodology

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Scenario 5: Account-by-Account Tracking (2025+)

For tax year 2025+, IRS T.D. 10000 requires account-by-account cost basis tracking. When enabled, Lot Tracking shows an Account column, Form 8949 uses account-specific lot matching, and all reports display a “Tracking: Account-by-Account” indicator. See the Account-by-Account Tracking Guide for details.

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Troubleshooting

”No data” or empty report

No calculations exist for the selected jurisdiction/tax year/method combination. Go to the ACB Calculator, run calculations, then return to Reports.

Export buttons are locked

You’re in trial mode. Purchase a US or Combined license to unlock exports.

Form 8949 totals don’t match Schedule D

Check that you’re comparing the right sections (Form 8949 Part I totals go to Schedule D Part I). If wash sale rule is enabled, adjustments affect the totals.

Lot Tracking shows unexpected lots

Your selected method (FIFO/LIFO/HIFO) determines which lots are consumed:

• FIFO: Oldest consumed first → newest lots remain
• LIFO: Newest consumed first → oldest lots remain
• HIFO: Most expensive consumed first → cheapest lots remain

Schedule D shows loss but I can’t deduct it all

IRS limits capital loss deductions to $3,000/year ($1,500 married filing separately). Excess losses carry forward to future years.

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Best Practices

1. Choose a Method and Stay Consistent

Pick a lot selection method (FIFO, LIFO, or HIFO) for each asset and use it consistently year-to-year. While changing methods between years is permitted (per §1.1012-1(j)(4), it’s not an accounting method change), frequent changes may raise audit questions. You can use different methods for different assets.

Recommendation for most users: HIFO — minimizes capital gains by consuming highest-cost lots first.

2. Generate and Keep Reports Annually

After each tax year, generate all required reports and export to PDF. Keep for 7 years (IRS statute of limitations). Back up your PrivateACB database.

3. Review Before Filing

Cross-check reports against exchange statements. Verify transaction counts, dates, and amounts. Consider having a crypto-savvy CPA review the reports.

4. Understand Wash Sale Implications

The wash sale rule toggle is in the ACB Calculator’s Config Bar (disabled by default). If enabled, review the Wash Sale Report to understand denied losses. See the Wash Sale Guide for details.

5. Export in Both Formats

PDF for official filing. CSV for analysis in Excel, importing into tax software (TurboTax, H&R Block), or sharing with your accountant.

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Related Guides

• US Tax Calculation Guide — How to run calculations
• US Tax Formulas (Technical) — Mathematical details
• Wash Sale Guide — Understanding the wash sale rule
• Account-by-Account Tracking Guide — T.D. 10000 compliance for 2025+
• Market Data Guide — Setting up exchange rates
• Import Flow Guide — Importing transaction data

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Jurisdiction: United States Tax Authority: Internal Revenue Service (IRS) Last Updated: February 2026 PrivateACB Version: 2.0