topic For the question "Did you acquire, sell, or exchange any virtual currency in 2020?" I selected yes but nothing else came up about it later, is that ok? in Retirement tax questions

For the question "Did you acquire, sell, or exchange any virtual currency in 2020?" I selected yes but nothing else came up about it later, is that ok?

noah5500 — Sat, 13 Mar 2021 16:40:47 GMT

Re: For the question "Did you acquire, sell, or exchange any virtual currency in 2020?" I selected yes but nothing else came up about it later, is that ok?

fanfare — Sat, 13 Mar 2021 17:05:40 GMT

That's it.

IRS is making a list and will be checking it twice, in the future.

Re: For the question "Did you acquire, sell, or exchange any virtual currency in 2020?" I selected yes but nothing else came up about it later, is that ok?

SteamTrain — Sat, 13 Mar 2021 17:33:40 GMT

Depending on how your sales/gains/losses were reported, you must enter them on the Wages& Income page.

BUT, if using the "Online" software, you will have to upgrade to Premier to make those entries.

Re: For the question "Did you acquire, sell, or exchange any virtual currency in 2020?" I selected yes but nothing else came up about it later, is that ok?

Snowy_Desert — Wed, 21 Apr 2021 03:31:16 GMT

On the same boat here; I had bitcoin for years in my Coinbase account and ended up selling it at a loss later in 2020 (before it went up massively), however there is no tax form in my coinbase account nor they have my SSN, and the sale price was less than $300, do I need to answer "Yes" to that question above and I do not get the next page either when selecting "Yes".

Re: For the question "Did you acquire, sell, or exchange any virtual currency in 2020?" I selecte...

KathrynG3 — Sun, 25 Apr 2021 20:32:38 GMT

Yes, answer Yes to the question: Did you acquire, sell, or exchange any virtual currency in 2020? It sounds like you may need to upgrade to Premier.

@Snowy_Desert