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Do I have to provide any documentation if I answered Yes to the virtual currency question?

 
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MaryK4
Expert Alumni

Do I have to provide any documentation if I answered Yes to the virtual currency question?

No, you do not have to provide any documentation unless requested by the IRS if you reported it on your tax return.

 

 If your only transactions involving virtual currency during 2021 were purchases of virtual currency with real currency, you are not required to answer “yes” to the Form 1040 question, and should, instead, check the “no” box.

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