topic Re: Virtual Currency Checkbox in Get your taxes done using TurboTax

Virtual Currency Checkbox

simonsaba — Sat, 25 Jan 2020 20:42:45 GMT

When running Smart Check, there is an error saying: 1040/1040SR Wks: Virtual Currency Boxes must be entered. There are three choices: No entry, Virtual Currency Yes Chbx and Virtual Currency No Chbx. When I go to Forms and click Errors, the error description appears at the bottom of the screen but the error is not highlighted on the form. Clicking on the up/down arrow does not show the location of the error. Clicking the up/down agai does take me to an error on another page which is highlighted in red. Clicking the up/down arrow again takes me back to the 1040/1040SR Wks but no error is highlighted. Where is this checkbox located? I used TurboTax on another return and did not see this error.

Re: Virtual Currency Checkbox

eganders — Tue, 17 Mar 2020 16:53:32 GMT

What is virtual currency checkbox? I checked NONE because I have not felt in virtual currency and have never seen it in turbotax before. What is it all about???

Re: Virtual Currency Checkbox

KrisD15 — Tue, 17 Mar 2020 19:13:35 GMT

That includes Bitcoin and the likes.

It can be earned and traded.

Below is a link to more information:

IRS link about Virtual Currency

Re: Virtual Currency Checkbox

dccox7 — Thu, 02 Apr 2020 15:11:52 GMT

There is a small check box that is highlighted red that you need to check. I did the same thing, I couldnt find what it wanted me to do. But it is there..

Re: Virtual Currency Checkbox

dennisggilman — Mon, 01 Feb 2021 21:20:20 GMT

I got this error:

Check This Entry

1040/1040SR Wks: Virtual currency check boxes must be entered.

Three checkboxes are available. They are No Entry, Virtual Currency Yes Chbx and Virtual Currency No ChBx.

App does not point to the location of this error.

Sincerely,

Dennis

Re: Virtual Currency Checkbox

DianeW777 — Mon, 01 Feb 2021 21:46:40 GMT

To find the cryptocurrency/virtual currency question, click the "magnifying glass, upper right to Search > Type cryptocurrency > press enter

Select the "Jump to cryptocurrency" link to get the question "Did you sell or trade cryptocurrency in 2020?"

Re: Virtual Currency Checkbox

amanda-salvarani — Mon, 22 Mar 2021 15:53:02 GMT

I have "Turbotax Home and Business" and I don't see a magnifying glass to Search. I need to find that crypto currency question. I must have answered "no" initially because I see a "no" answer in the forms view. But I need to change that and can't figure out how to find that question. Please help.

Re: Virtual Currency Checkbox

BillM223 — Mon, 22 Mar 2021 23:19:16 GMT

In TurboTax Home and Business the Search box is located in the grey bar, below the blue bar at the top right of your screen. This is for Windows, at least.

If you have a Mac, look in the Topics List for the search word instead.

Note, as dennisggilman said above, if you don't find the question in the Step-by-step, when you go through the Review, TurboTax will ask you about cryptocurrency transactions.

@amanda-salvarani