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New Member
posted Feb 11, 2020 11:40:58 AM

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?

0 7 6710
7 Replies
Expert Alumni
Feb 11, 2020 12:03:48 PM

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

New Member
Jun 19, 2020 1:42:16 PM

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.

Level 2
Feb 11, 2021 4:19:40 PM

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.  

Level 1
Feb 28, 2021 12:34:46 PM

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

Expert Alumni
Mar 1, 2021 12:57:59 PM

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

 

@Randall Potter

New Member
Apr 12, 2022 2:08:42 PM

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

New Member
Apr 12, 2022 2:11:53 PM

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