Hey so i was finishing my taxes and I was asked the question if i did cryptocurrency in 2021. The technical answer is yes I made $6 cause the platform i used refused to refund my $10 almost immediately after i put in the money cause i felt it was scammy. So I ended up making $6. I dont want to pay $70 to add this stupid $6 to my taxes. But if I put no its technically a lie so i don't know what to do here. I can't afford another $70 thats a $64 loss and I need it to pay my debt! if i put yes even if turbotax doesnt ask me the amount doesnt it flag my return? I dont want to get audited for a stupid $6 they can have the $6!
You'll need to sign in or create an account to connect with an expert.
The cryptocurrency question is a required answer on the 2021 Federal 1040 tax return. The question on the 2021 Federal 1040 reads:
At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?
The IRS explains how to answer the question on page 17 of the 1040 instructions here.
A transaction involving virtual currency includes, but is not limited to:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Curious_panda1
Level 2
floriatax
Returning Member
sara-phillips1983
New Member
ronroberts
Level 2
timcarlson12
New Member