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Level 2
March 1, 2020
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Virtual currency question on Schedule 1 2019

  • March 1, 2020
  • 1 reply
  • 21 views

The question asks:

 

At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in anyvirtual currency?

 

If I only bought some bitcoin, should I say yes or no? Very confusing question to say the least and a lot of different opinions on what should be the correct answer.

Best answer by KarenJ2

Since you acquired cryptocurrency, you need to answer yes even though it is not a taxable event.

 

Forbes Cryptocurrency On Your Taxes

1 reply

KarenJ2Answer
Level 13
March 1, 2020

Since you acquired cryptocurrency, you need to answer yes even though it is not a taxable event.

 

Forbes Cryptocurrency On Your Taxes

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