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Where in EasyStep can I answer the Cryptocurrency question (as the Form 1040 is calculated/uneditable)?

If I go into forms, the answer on my 1040 is checked incorrectly and I cannot edit it on the form as it says it's calculated. Where in the EasyStep process can I get TurboTax to re-ask me "At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?"

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1 Best answer

Accepted Solutions
DawnC
Expert Alumni

Where in EasyStep can I answer the Cryptocurrency question (as the Form 1040 is calculated/uneditable)?

You can either change it on the forms or you can change it in the interview (non-forms) mode.   

 

  1. To change it on the forms - You can change your answer (yes or no) by editing the 1040/1040SR Wks. (worksheet),   The question is near the top, right underneath the Presidential Election Campaign question.  
  2. To change it in interview mode - In Easy Step, click on Personal or Personal Income at the top.  
  • Then click Continue and I'll Choose what I work on.
  • Scroll to the bottom of page and click on Done with Personal Income.
  • Click through a few screens until you come to the page below and make your selection.  The number of screens you have to click through depends on the types of income you have entered, but the crypto question is at the end of the Personal Income section.  

How is cryptocurrency like Bitcoin taxed?   If you need assistance reporting the income, let us know more about your transactions - did you buy and sell, use or spend crypto, or did you mine it or receive it as a payment for services.   Each transaction type is reported and/or taxed differently.  

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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2 Replies
DawnC
Expert Alumni

Where in EasyStep can I answer the Cryptocurrency question (as the Form 1040 is calculated/uneditable)?

You can either change it on the forms or you can change it in the interview (non-forms) mode.   

 

  1. To change it on the forms - You can change your answer (yes or no) by editing the 1040/1040SR Wks. (worksheet),   The question is near the top, right underneath the Presidential Election Campaign question.  
  2. To change it in interview mode - In Easy Step, click on Personal or Personal Income at the top.  
  • Then click Continue and I'll Choose what I work on.
  • Scroll to the bottom of page and click on Done with Personal Income.
  • Click through a few screens until you come to the page below and make your selection.  The number of screens you have to click through depends on the types of income you have entered, but the crypto question is at the end of the Personal Income section.  

How is cryptocurrency like Bitcoin taxed?   If you need assistance reporting the income, let us know more about your transactions - did you buy and sell, use or spend crypto, or did you mine it or receive it as a payment for services.   Each transaction type is reported and/or taxed differently.  

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
lucindaa
New Member

Where in EasyStep can I answer the Cryptocurrency question (as the Form 1040 is calculated/uneditable)?

I do not have the option to edit in the worksheet OR interview section. How do I get to one of them?

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