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Why am I getting a message that reads 1040/1040SR Wks: Virtual currency check boxes must be entered. I have not seen this in the past?

 
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7 Replies
JamesG1
Expert Alumni

Why am I getting a message that reads 1040/1040SR Wks: Virtual currency check boxes must be entered. I have not seen this in the past?

The virtual currency questions are new for the 2019 tax season.  See the form just below the taxpayer name.

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DRLiscom
New Member

Why am I getting a message that reads 1040/1040SR Wks: Virtual currency check boxes must be entered. I have not seen this in the past?

This explanation is vague and does not indicate which entry needs to be changed in order to remove this error message.  I completed all the steps and this message still appears.  It seems there is a flaw in your programming.  There was no place for entering this information.

Why am I getting a message that reads 1040/1040SR Wks: Virtual currency check boxes must be entered. I have not seen this in the past?

If you go to forms view and go to the 1040, you will find the question  " At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?"  Yes or No   (Under the presidential Election Campaign question)   The wording on the message could be a lot better.  

Why am I getting a message that reads 1040/1040SR Wks: Virtual currency check boxes must be entered. I have not seen this in the past?

Why don't they just call it crypto currency? Then everyone would know what you are talking about.

Irene2805
Expert Alumni

Why am I getting a message that reads 1040/1040SR Wks: Virtual currency check boxes must be entered. I have not seen this in the past?

"Virtual Currency" is the term the IRS uses, so TurboTax follows their lead.

 

@Randall Potter

joviaust
New Member

Why am I getting a message that reads 1040/1040SR Wks: Virtual currency check boxes must be entered. I have not seen this in the past?

After looking at your input, I am not able to check that box (or the one above it for that matter)

joviaust
New Member

Why am I getting a message that reads 1040/1040SR Wks: Virtual currency check boxes must be entered. I have not seen this in the past?

Never mind.  I had to open the form first, not just view it.

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