input for crypto currency

Forum|Forum|6 years ago
February 28, 2020
1 reply
6 views

The screen 3 input for whether crypto currencies were used, to answer the question on schedule 1, is marked as an override. But what is it overriding? I do not see anything in the dispositions screen that would mark an asset sold as being crypto, so where would that input be flowing from such that an override is needed?

Lacerte Tax

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itonewbie

Level 15

Just noticed this post has not been answered. By now, you probably have figured that out. If not, this is how it works:

The system is defaulted to no if you leave it blank but you'll get a CD that kinda force you to make an entry. The notion about that being an override is really a misnomer.

---------------------------------------------------------------------------------Still an AllStar

P

PPECPA

Level 5

I have a client that has received a cryptocurrency account statement for realized gains and losses(short term).

The form states this should be reported on the Form 8949 with box C checked. where is the inputted in lacerte? What input screen do I use? 17.1? Is this treated as a regular disposition?

Any help would be appreciated.

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