8949, Kraken: OTC sales are missing from 1099-DA from Koinly
complete
Jack
I sold some of my crypto via Kraken's OTC desk. Kraken does not report such trades on my 1099-DA, but Koinly still marks them with box K.
These payments should have box L checked
Solution
Kraken issued a separate 1099-DA for OTC Sales, meaning that these sales should have the box I/H set.
If you want to upload the OTC 1099-DA to Koinly:
- Create a second wallet "Kraken OTC"
- Edit the trade and later withdrawal and change the wallet to "Kraken OTC"
- Add a transfer from your Kraken wallet ton "Kraken OTC" 1min before the trade
- On the "Tax Reports" page, upload your 1099-DA for Kraken OTC
Jack
marked this post as
complete
This case was partly a misunderstanding, as Kraken issued a separate 1099-DA for OTC sales.
In the main body of the post, I added a workaround one can follow if they want those trades to appear separately on 8949 (and upload the 1099-DA from the OTC desk to Koinly)