I am running into this exact same issue for my 2021 tax returns. In 2021, I simply bought and held cryptocurrency (i.e., no sales or other transactions). It is unclear to me as to whether I should answer "Yes" or "No" to the question: "Did you acquire, sell, exchange, or dispose of any virtual currency in 2021?"
TurboTax's description states that a transaction is defined as any of the following:
"- Receipt or transfer of virtual currency for free
- An exchange of virtual currency for goods or services
- A sale of virtual currency
- An exchange of virtual currency for other property (including for another virtual currency)"
This description does no appear to include only the purchase of virtual currency (it seems to only include receipt/transfer of the currency "for free"). Any advice on how to handle this? I don't want to answer "Yes", if that would mean that the IRS would expect to then see that I had sold/exchanged virtual currency in my income.
