Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 18, 2023 9:54:11 AM

How do i mark no to digital asset question on page 1 of 1040

0 3 1217
3 Replies
Expert Alumni
Mar 18, 2023 10:21:52 AM

To answer the digital assets question, in TurboTax Online:

 

  1. Go to the Wages&Income menu page and select  I'll Choose what I will work on.  The full menu will be displayed.  
  2. A the bottom of the menu, choose Done with income.  Continue for another page or two and you will be able to change your answer.
  3. If you've already made the Virtual Currency entries, remove them first. You can test it without removing them, but it may be necessary to do so.

See this IRS webpage for more information regarding the digital assets question for tax year 2022.

 

New Member
Mar 18, 2023 10:31:13 AM

I think the default is No.

But you can switch to View -> Forms -> 1040/1040sr Wks 

You can make changes there, but Beware-

Entering data in the Forms view first and then Switching the opposite direction may not work well

 

New Member
Mar 28, 2023 2:15:41 PM

With the online version what threw me were the advertisements. I had to go through ads asking me to upgrade my turbotax subscription before the crypto question came up. Originally, I closed the ads not knowing I had to go through each one to reach the crypto question. I don't know if it's the same for the desktop version but what a pain.