Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
A
anthonytaxes20
May 17, 2021
Solved

Are payments received via PayPal that are paid in USD ($) considered virtual currency?

  • May 17, 2021
  • 1 reply
  • 0 views
Kind of confused by the question "Did you acquire, sell, or exchange any virtual currency in 2020?" Because I did receive payments virtually in USD ($) via PayPal but nothing in the form of Bitcoin or anything like that.
Best answer by AnnetteB6

No, payments received through PayPal that are in US Dollars are not considered to be virtual currency.  The question is referring to Bitcoin or other forms of cryptocurrency.  

1 reply

A
AnnetteB6Answer
May 17, 2021

No, payments received through PayPal that are in US Dollars are not considered to be virtual currency.  The question is referring to Bitcoin or other forms of cryptocurrency.  

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

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification