On every Form 1040 (individual tax return) and now on business tax returns, there is a question on the first page asking whether you engaged in any transactions involving digital assets. Did you receive, sell, exchange, or otherwise engage in a transaction involving digital assets? The answer choices are simply "Yes" or "No." If you’re unsure whether you should answer Yes or No, the safest choice is always "Yes." Here’s why: The IRS intentionally keeps the definition of “digital assets” broad, which means it could apply to more transactions than you might expect. If you select "No" but later the IRS determines you did have digital asset transactions, they could claim you knowingly filed a fraudulent tax return. Saying 'Yes' does not mean you owe tax—it simply acknowledges that you were involved in some way with digital assets. The real risk comes from incorrectly selecting "No" when you actually had crypto activity, as this can flag you for an audit or penalties. This question is designed to catch people who try to hide crypto activity, so the safest approach is: When in doubt, check "Yes." It’s much better to over-disclose than to risk being accused of underreporting. #crypto #defi #nft #meme #Bitcoin $btc $eth $sol $usdt $usdc $ada $xrp $link $s

@CryptoTaxFixer Thank you! What about if I bought in 2017 and am currently holding, no transactions. Would the answer for 2023 return be Yes or No?