I incorrectly answered the 'purchased crypto currency" question. How do I fix that answer? I've been looking, but can't find where to change my answer.

[emg4166]

I just want to know what the steps are in TurboTax to locate the crypto question and change the answer.

[suzanne]

Quick Answer: You change it in form '1040/1040SR Wks', not 'Form 1040'.

More detailed Answer: The question doesn't come up again in TT once you've answered it once.  To make a change, go directly into your 'Forms', click on '1040/1040SR Wks', and click the 'Yes" or 'No' box to answer it correctly.  If you aren't familiar with the way you toggle between 'Step-by-Step', where you are guided by questions, and 'Forms', where the actual tax forms that the IRS sees are stored, then you will want to make sure you are in forms-mode first.  To do this, look at the top of the screen where there are three icons in the blue background.  One reads 'Forms', one 'Flags', and one 'Notifications'.  Click on 'Forms' to see a list to your left of all you tax forms.  Click on '1040/1040SR Wks' and a little down the page you will see the cybercurrency question.  Click 'Yes' or 'No' to 'x' the box you desire.  If you don't see Forms, Flags and Notifications, but instead see 'Step-by-Step' in the blue area, then you're already in the right spot.  Just look to your left for the '1040/1040SR Wks' form.

[maggie74]

To help further, the question is under the Presidential Election Campaign section - mine was on the first page when looking at the 1040/1040SR Wks as described above. (I do think the IRS could have made the question a little more clear by using the word "purchase" instead of "receive.")

[maggie74]

Suzanne, this was an excellent detailed answer. Thank you!