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Level 7
December 7, 2019
Solved

New virtual currency question on Schedule 1. I am certain zero of my clients trade in virtual currency. Is there a way to answer No in each file en masse rather than each

  • December 7, 2019
  • 7 replies
  • 32 views
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Best answer by itonewbie
"I am certain zero of my clients trade in virtual currency"

The only confidence you can have under the law is to have the documentation on file, e.g. response from your client, to evident that your clients don't have any.  Being able to read the minds of your clients or knowing them since childhood will just not cut it.

7 replies

itonewbie
itonewbieAnswer
Level 15
December 7, 2019
"I am certain zero of my clients trade in virtual currency"

The only confidence you can have under the law is to have the documentation on file, e.g. response from your client, to evident that your clients don't have any.  Being able to read the minds of your clients or knowing them since childhood will just not cut it.
---------------------------------------------------------------------------------Still an AllStar
Just-Lisa-Now-
Intuit Community Champion
December 7, 2019

You could edit the client template and mark the box and that would auto check the box for any new clients...not sure there is any option for returning clients.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Just-Lisa-Now-
Intuit Community Champion
December 7, 2019
nope, the client template wont let me mark that box at all...sorry
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 3
February 28, 2020

For the DEV team... PLEASE LET US AUTO default this question.  I literally updated software this AM and e-filed over 100 returns.  21 kicked out because of this issue.  It took me a half hour to click NO for EVERY one of these!