![]() ![]() Line 1 to report amounts from Form W-2 has expanded to 10 sub-lines to separately report various types of wage-based income. ![]() Last year, the question was: "At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?" The draft form for 2022 asks, "At any time during 2022, did you: (a) receive (as a reward, award, or compensation) or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)? (See instructions.)" The Form 1040 draft includes an expanded question on virtual currencies, which are referred to as digital assets in the updated question. The IRS has released a draft version of Form 1040 for the tax year 2022, along with drafts of related forms and schedules. ![]()
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