1c — Short-Term Totals From Form 8949, Box C Updated for tax year 2025

What this line means

The total short-term gains and losses from assets reported on Form 8949 with Box C checked — meaning you did not receive a 1099-B for these transactions at all. These are assets held one year or less that you sold in a transaction where no broker reported the sale to the IRS.

Does this apply to you?

• You sold cryptocurrency through a decentralized exchange or peer-to-peer transaction with no 1099-B issued
• You sold personal property like a vehicle, collectibles, or jewelry at a gain
• You sold assets in a private transaction — not through a broker or exchange
• You received proceeds from a lawsuit settlement that represents a short-term capital gain

Easy to overlook

Crypto sold through DeFi protocols and wallets Decentralized exchanges like Uniswap do not issue 1099-Bs. Every swap, liquidity pool withdrawal, or NFT sale is still a taxable event. You need to track these yourself using transaction records from the blockchain. The IRS has stated that all cryptocurrency dispositions are reportable regardless of whether a 1099 was issued. ¹ [SOURCE: General filing pattern — unreported peer-to-peer crypto sales]

Private sales of personal property at a gain If you sold a car, boat, or piece of art for more than you paid, the gain is taxable. No one sends you a tax form for this. Losses on personal property are not deductible, but gains are taxable — an asymmetry many filers do not realize exists. ² [SOURCE: IRS Schedule D instructions — Line 1c]

Watch out for this

Not reporting cryptocurrency sales because no 1099-B was issued. The IRS requires reporting of all capital asset sales regardless of information reporting. The digital assets question on Form 1040 page 1 specifically asks whether you sold or exchanged digital assets. Answering “yes” and then omitting the transactions creates an obvious inconsistency.

Related lines on your return

• Line 1a — Schedule D — Short-term sales where the broker reported basis (most brokerage sales)
• Line 1b — Schedule D — Short-term sales where the broker reported proceeds but not basis
• Line 7 — Schedule D — Net short-term capital gain or loss