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input for crypto currency

taxed2max
Level 3

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?

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2 Comments 2
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.

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Still an AllStar
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PPECPA
Level 4

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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