topic Re: Digital asset in Get your taxes done using TurboTax

Digital asset

aestrom — Fri, 11 Apr 2025 20:18:12 GMT

I am using TurboTax Deluxe Desktop. I clicked "no" on the digital asset question but need to change the answer to yes. I have tried restarting my computer, I have clicked through every section of "Wages and Income" and I have clicked through the questions after selecting "Done with Income." I cannot get this question to populate to change my answer.

Re: Digital asset

baldietax — Fri, 11 Apr 2025 20:32:47 GMT

if on desktop try going to Forms mode then find your "1040/1040SR Worksheet" and change it there

Re: Digital asset

LenaH — Fri, 11 Apr 2025 20:33:33 GMT

If you are using TurboTax Desktop, you can go into Forms and change the answer to "Yes".

To do so, please follow the instructions below:

Click on Forms on the top right of your screen.
Click on 1040/1040SR Wks in the left hand column.
Scroll down to Digital Assets and click Yes.

Re: Digital asset

malindal — Mon, 14 Apr 2025 00:32:00 GMT

What do I do if I have the on-line version of TurboTax?

Re: Digital asset

TomK2023 — Mon, 14 Apr 2025 00:42:09 GMT

The IRS will ask you if you received, exchanged or sold any digital assets during the year. If so, it is up to you to report income associated with that on your tax return.

There are three ways to enter your crypto in TurboTax:

Import your info directly from your crypto source (this is what we recommend, though it's not available for TurboTax Desktop)
Upload a CSV file of your crypto transactions
Enter your transactions manually

Add/Edit/Delete Form Cryptocurrency:

Open your return (if not already open).
Enter "cryptocurrency" in the Search box.
Click on "jump to cryptocurrency" link.
Enter you information by importing it or by entering it manually.

TurboTax FAQ: How do I enter my crypto in TurboTax?

Re: Digital asset

malindal — Mon, 14 Apr 2025 01:35:05 GMT

I'm guessing that TomK2023 is a bot since it is not answering the question.

The question is how do you change the answer to the Yes/No question on selling/receiving Digital Assets that is on the front of Form 1040, when using the online edition of TurboTax?

Re: Digital asset

skip22 — Mon, 14 Apr 2025 07:15:34 GMT

I had this same problem and was able to get the question to show up again at the end of the income section by first deleting my crypto worksheet / sales entries completely out of the online return. Then clicking through the complete buttons on the income section brought the digital asset question back up again. After I made sure yes was selected and continued, the return had the digital asset question updated. I then was able to go back and re-enter my crypto sales into the income section. Hope this helps someone!

Re: Digital asset

malindal — Tue, 15 Apr 2025 01:59:29 GMT

Thank you skip22!

That worked for me also.