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I only got $800 from selling crypto, do i need to file

 
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1 Reply
RaifH
Expert Alumni

I only got $800 from selling crypto, do i need to file

Yes, even if you did not receive a tax form, this still must be reported on your tax return. To enter the sale in TurboTax:

  1. With your return open, go to Federal > Income & Expenses
  2. Open the Investment Income section and start or revisit Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
  3. Continue by selecting Yes and then clicking on Cryptocurrency

If you mean that this sale of cryptocurrency was your only form of income for the entire year, then no, you are not required to file a federal return. Even if you are a dependent, the minimum income required to file is $1,100. 

 

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