I purchased crypto last year. do I check yes or no if I didn't do anything else with it but store in wallet?

[MindyB · Accepted solution]

Based on the current IRS instructions, if you only purchased digital assets with US or other currency (including Venmo etc.) and transferred it from one wallet or account you do not need to check "Yes" to the question asking if at any time during 2025, you (a) received (as a reward, award, or payment for property or services); or (b) sold, exchanged, or otherwise disposed of a digital asset (or any financial interest in any digital asset). 

See IRS 2025 1040 Instructions.