But even if the taxpayer is not otherwise required to file Sch 1 but has engaged in any virtual currency transactions as described, Sch 1 will still need to be filed.
Still an AllStar
Agreed @itonewbie . I was concerned with the error checking. If its left unchecked and "no" is auto default, Im content. If Sch 1 is present, then error will occur (if I fail to check). If no Sch 1, "no" will be default so no error is necessary. It will be up to us to check the box for yes responses.
I hope that makes sense. 🙂
Right you are on all counts, but final review tells you about it anyhow..I was interpreting that highlight as meaning that you somehow had to check the NO box, but you cant (solid dark border)
What do you if you don't have Schedule 1 activity and still have to check the box because of virtual?
Art Robinson WAMS
You can check it on the 1040/1040SR worksheet (not on Schedule 1). Then it will be checked on Schedule 1. What happens on an e-filed return, I have no idea, but at least if you print out the return it will be marked to protect you.