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Level 2
posted Feb 29, 2020 11:53:44 PM

Virtual currency question on Schedule 1 2019

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.

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1 Best answer
Expert Alumni
Mar 1, 2020 5:21:23 AM

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

 

Forbes Cryptocurrency On Your Taxes

1 Replies
Expert Alumni
Mar 1, 2020 5:21:23 AM

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

 

Forbes Cryptocurrency On Your Taxes