rjs
Level 15
Level 15

Get your taxes done using TurboTax

TurboTax asks about cryptocurrency because there is a question on Form 1040 asking whether you bought or sold any cryptocurrency. Answering the question in TurboTax just checks Yes or No on the 1040.


If you sold or otherwise disposed of any cryptocurrency you have to report that as an investment sale. If you didn't sell anything, you have nothing to report and you don't have to do anything.


You probably should have reported the $5 stock as income, but it's not necessary to file an amended return for a difference of $5. The IRS is not going to bother you about it.