Virtual Currency

Answer the virtual currency question on Forms 1040 and 1040-SR
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Due to IRS Security Summit initiatives designed to help prevent identity theft, the IDS screen is required on every individual return for e-file.
Generate the Foreign Tax Credit on Schedule B for foreign-source income that would normally be taxed by both the US and the country from which the income is derived.
Learn how to use screen RRC to calculate any available Recovery Rebate Credit (Economic Impact Payment) that the taxpayer might be entitled to on the 2021 tax return.