Loss due to crypto conversion 1099-B

[chatumoh]

I have a reported loss for converting crypto for $31 i was playing around with my coinbase account and very small amount of crypto. Turbo tax marks this section as needs review and when i move forward it asks to upgrade to premier . What should i do ?

[JamesG1]

I assume that you reported the $31 as a capital loss under Investments and Savings on an IRS form 1099-B / IRS form 8949 / Schedule D Capital Gains and Losses.  If so:

• Return to the entry and click the Delete trashcan to the right or click the down arrow and click the Delete trashcan to remove the entry.
• Click Review down the left side of the screen to see whether the error has cleared.
• Look in the upper left hand corner of the screen to make sure that you are still in the Deluxe version.

If you have incorrectly reported the $31 in income, now correctly report the income.  

However, you may find that the $31 income entry had been correctly entered and you will have to upgrade to the Premier version to correctly report the income.

@chatumoh