Loss due to crypto conversion 1099-B

chatumoh — Tue, 24 Feb 2026 05:43:34 GMT

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 ?

Re: Loss due to crypto conversion 1099-B

JamesG1 — Sun, 09 Apr 2023 12:19:05 GMT

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

topic Loss due to crypto conversion 1099-B in Retirement tax questions

Loss due to crypto conversion 1099-B

Re: Loss due to crypto conversion 1099-B