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New Member
posted Feb 19, 2025 4:49:23 PM

Should I amend my tax return? I just realized that I had proceeds of $31 in bitcoin and didn’t know I needed to add to my taxes. Not sure what I need to do.

Me putting money in bitcoin was just a “see what happens” type thing. So I forgot about it, until Cashapp sent me an email yesterday stating I had a document for bitcoin that needed to be filed with my taxes.

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Expert Alumni
Feb 20, 2025 7:12:10 AM

You may need to amend your 2024 Federal income tax return if you receive tax documents that should have been included on the 2024 income tax return.  What form did you receive?

 

If your return has been transmitted and rejected by the IRS, you can correct your tax return and re-transmit.

 

If your return has been transmitted and accepted by the IRS, you will have to amend your Federal 1040 tax return.  However, before amending your tax return, do not enter the return and do not make any changes.

 

If you used TurboTax Online, log in to your account and select Amend a return that was filed and accepted.

 

If you used the CD/download product, sign back into your return and select Amend a filed return

 

See also this TurboTax Help.