#8 Miss-statement in "virtual currency" instructions

[Rich]

There is a small miss-statement and one typo in the 'instructions' in the US_1040_template.txt (and example) file.

The line regarding virtual currency says: "did you buy/sell/own and Virtual". The word "and" should have been "any", however the word "own" is a miss-statement.

From the US Form 1040 instructions (https://www.irs.gov/pub/irs-pdf/i1040gi.pdf) page 16, the instructions state in relevant part:

"A transaction involving virtual currency does not include the holding of virtual currency in a wallet or account, or the transfer of virtual currency from one wallet or account you own or control to another that you own or control."

So mere "ownership" of virtual currency is not sufficient to warrant a "Y" answer to the virtual currency line.

Therefore the word "own" is a miss-statement in the instructions.txt file.

Attached are two patch files that correct this for the instruction and example files. The word "own" is changed to "exchange/trade" and "and" is changed to "any".

[Aston Roberts]

Rich,
Good catch!
The corrected wording for the Virtual Currency prompt is now corrected in the upcoming 18.06 release.
Thank you,   -- Aston
On Monday, March 15, 2021, 01:10:32 PM EDT, Rich rich123@users.sourceforge.net wrote:

[patches:#8] Miss-statement in "virtual currency" instructions

Status: open
Group: Unstable (example)
Created: Mon Mar 15, 2021 05:10 PM UTC by Rich
Last Updated: Mon Mar 15, 2021 05:10 PM UTC
Owner: nobody
Attachments:

• d1.diff (532 Bytes; text/x-patch)
• d2.diff (554 Bytes; text/x-patch)

There is a small miss-statement and one typo in the 'instructions' in the US_1040_template.txt (and example) file.

The line regarding virtual currency says: "did you buy/sell/own and Virtual". The word "and" should have been "any", however the word "own" is a miss-statement.

From the US Form 1040 instructions (https://www.irs.gov/pub/irs-pdf/i1040gi.pdf) page 16, the instructions state in relevant part:

"A transaction involving virtual currency does not include the holding of virtual currency in a wallet or account, or the transfer of virtual currency from one wallet or account you own or control to another that you own or control."

So mere "ownership" of virtual currency is not sufficient to warrant a "Y" answer to the virtual currency line.

Therefore the word "own" is a miss-statement in the instructions.txt file.

Attached are two patch files that correct this for the instruction and example files. The word "own" is changed to "exchange/trade" and "and" is changed to "any".

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[Aston Roberts]

Fixed.