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johncisek
New Member

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

Because I answered yes, the 'yes' box is checked on the 1040 page 1 regarding crypto and I want to change my return so the 'no' box is checked.
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1 Best answer

Accepted Solutions

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

 After you finish entering details of income click on continue.

 

  • Were either of you affected by a natural disaster in 2021? say yes or no Continue
  • In the next screen it will ask you
  • Did you acquire, sell, or exchange any virtual currency in 2021?
  • Change your answer to No Continue

 

 

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10 Replies

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

 After you finish entering details of income click on continue.

 

  • Were either of you affected by a natural disaster in 2021? say yes or no Continue
  • In the next screen it will ask you
  • Did you acquire, sell, or exchange any virtual currency in 2021?
  • Change your answer to No Continue

 

 

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

The operative word in that question is "acquire".

JohnB5677
Expert Alumni

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

While buying and holding crypto doesn’t require a yes, you need to check that box if you sold, exchanged, mined digital assets, or used it for purchases.

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I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

After I pass the Natural disaster page, it automatically moves me to the next category.  I don't see the questionnaire pop up.

PattiF
Expert Alumni

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

In TurboTax Online, 

  • Go to Other Deductions and Credits
  • Scroll to Disasters, theft and other property loss or damage
  • Click on Button (Edit or Revisit)
  • Change answer to no to remove the Disaster Entry

@SecondHalfHero77 

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I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

I have the same problem and can't figure out how to revisit this "Digital Assets" question.

 

The accepted answer says "After you finish entering details of income click on continue." Where is this "Continue"? When I pick Federal > Wages & Income in the left nav bar, there is no Continue button on that page, only a "Done with Income" at the bottom. Pressing that does not take me to the natural disaster or virtual currency questions.

 

I'm sure I answered this Digital Assets question incorrectly when I first went through my 2022 return, but I cannot find where to fix that mistake.

DawnC
Employee Tax Expert

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

On the Wages & Income screen, scroll all the way to the bottom and click either Continue, Done or Done with Income depending on your version.   Click through the next few screens slowly, and you may be offered upgrades, asked about foreign assets, or be asked about other income you already entered, but right before TurboTax starts the Deductions section, you will get the screen below.   I had to click through 9 screens - - and do not upgrade 😉 - just click Continue.  @scottford 

 

 

 

 

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I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

Thank you! I just had to click through enough of the obnoxious upsell ads to find this.

fting
New Member

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

I answered Yes, but there is no more follow up question to let me input the transactions of the digital assets?

JamesG1
Expert Alumni

I accidentally answered yes to the question about crypto currency, but since I hold bought and held, I should have answered no. How do I change it?

You answered Yes to the question Did you have a financial stake in a digital asset.

 

What kind of transactions of digital assets do you need to report?  Please respond back here and someone will be able to help you.

 

In TurboTax Premier Online, you may be able to follow these directions.

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & income.
  • Click the Show more button to the right of Investments and Savings.
  • Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other. 
  • At the screen Your investments and savings, click Add investments.
  • At the screen, Let's import your tax info, select a vendor.

@fting 

 

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