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February 2, 2023
Question

Sold Crypto in 2021 But No Crypto in 2022

  • February 2, 2023
  • 1 reply
  • 0 views

So I sold some crypto in 2021 and reported it on my taxes last year. I sold everything in 2021 at a $4 loss. But as I am doing my taxes, TurboTax tells me I need to review Investments and Savings. When I select that I did not have crypto currency in 2022, it tries to make me import tax info for investments I don't have. How do I get out of this loop? Can I just not review this section? I'm worried I'll get audited or something if I don't do this correctly.

1 reply

February 2, 2023

Perhaps clearing your cache and cookies--assuming you have not already done so--may solve the issue.   A full or corrupted cache can keep TurboTax from functioning properly.  If that doesn't work, try a different browser such as Safari or Firefox if you're currently using Chrome and vice versa. 

 

Additionally, it is your tax return that matters.  The TurboTax application is not sent to the IRS.  If you have not yet paid your TurboTax fee, and you are using TurboTax online, you can still review parts of your tax return, namely, Form 1040, and Schedules 1, 2, and 3 if applicable.  If your return is accurate, then go ahead finish the review and efile.  Here are the steps to review your return in TurboTax online prior to paying the fee.

 

  1. Open or continue your return.
  2. Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
  3. With the Tax Tools menu open;
  4. Select Tools.
  5. Next, select View Tax Summary in the pop-up.
  6. Then Preview my 1040 in the left menu.
  7. To get back to the step-by-step instructions, just click Back in the left margin.

If you are using the TurboTax phone app to access your return, log out, then log back in using a web browser such as Firefox, Safari, Google Chrome.  You will be able to review your return using your smartphone if you log into your account using a web browser.

 

@adrian2022

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