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Level 1
posted Apr 23, 2025 9:21:13 AM

Amendment for Crypto Transactions

After filing my 2024 returns, I received a letter saying the IRS showed I likely made crypto transactions but didnt report them which was true - I had forgot. I pulled the CSV for the transactions, added it to federal and state and amended the returns the beginning of April 2025. There was no change in taxes due since I had already reached the $3k cap gains loss. After amending, I realized the box on page 1 of the 1040 was still marked "Did NOT make digital asset transactions in 2024" even though I added the transactions to turbotax.

Do I need to amend again to mark the box on page 1 1040 YES to digital asset transactions?

Thank you for your help!

0 1 3561
1 Replies
Expert Alumni
Apr 23, 2025 9:33:43 AM

No, don't amend again unless the IRS asks you to, which is highly unlikely.   You already added the crypto transactions and there is not a digital asset box on the 1040-X.   Your capital loss carryovers amounts are correct now as well.