Virtual Currency Checkbox

Forum|Forum|6 years ago
January 25, 2020
3 replies
22 views

When running Smart Check, there is an error saying: 1040/1040SR Wks: Virtual Currency Boxes must be entered. There are three choices: No entry, Virtual Currency Yes Chbx and Virtual Currency No Chbx. When I go to Forms and click Errors, the error description appears at the bottom of the screen but the error is not highlighted on the form. Clicking on the up/down arrow does not show the location of the error. Clicking the up/down agai does take me to an error on another page which is highlighted in red. Clicking the up/down arrow again takes me back to the 1040/1040SR Wks but no error is highlighted. Where is this checkbox located? I used TurboTax on another return and did not see this error.

eganders

Level 2

What is virtual currency checkbox? I checked NONE because I have not felt in virtual currency and have never seen it in turbotax before. What is it all about???

KrisD15

Level 15

That includes Bitcoin and the likes.

It can be earned and traded.

Below is a link to more information:

IRS link about Virtual Currency

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dccox7

Level 2

There is a small check box that is highlighted red that you need to check. I did the same thing, I couldnt find what it wanted me to do. But it is there..

dennisggilman

Level 2

I got this error:

Check This Entry

1040/1040SR Wks: Virtual currency check boxes must be entered.

Three checkboxes are available. They are No Entry, Virtual Currency Yes Chbx and Virtual Currency No ChBx.

App does not point to the location of this error.

Sincerely,

Dennis

DianeW777

Level 15

To find the cryptocurrency/virtual currency question, click the "magnifying glass, upper right to Search > Type cryptocurrency > press enter

Select the "Jump to cryptocurrency" link to get the question "Did you sell or trade cryptocurrency in 2020?"

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amanda-salvarani

Level 2

I have "Turbotax Home and Business" and I don't see a magnifying glass to Search. I need to find that crypto currency question. I must have answered "no" initially because I see a "no" answer in the forms view. But I need to change that and can't figure out how to find that question. Please help.