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There is a question "Did you receive, sell, exchange, or dispose of any virtual currency in 2021?" Should I say 'No' if I bought(didn't receive for free) some crypto?

I didn't receive any crypto for free, didn't sell nor exchanged nor disposed. I bought it and just held in the wallet. Do I need to say 'Yes' to this particular question? Thank you in advance.
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4 Replies
Vanessa A
Expert Alumni

There is a question "Did you receive, sell, exchange, or dispose of any virtual currency in 2021?" Should I say 'No' if I bought(didn't receive for free) some crypto?

Yes, you would need to say Yes to did you receive, sell, exchange, or dispose of any virtual currency since you bought it even if you did not dispose of it and just held it in your wallet. 

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New Member

There is a question "Did you receive, sell, exchange, or dispose of any virtual currency in 2021?" Should I say 'No' if I bought(didn't receive for free) some crypto?

Thank you!

ksacer
New Member

There is a question "Did you receive, sell, exchange, or dispose of any virtual currency in 2021?" Should I say 'No' if I bought(didn't receive for free) some crypto?

After answering "Yes" do I need to enter more information?  Turbotax does not prompt me to enter anything else.  (I purchased one crypto and exchanged it for another.)

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New Member

There is a question "Did you receive, sell, exchange, or dispose of any virtual currency in 2021?" Should I say 'No' if I bought(didn't receive for free) some crypto?

Correct. Turbo Tax doesn't prompt for further information.

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