Cryptocurrency taxes

Cryptocurrency Tax Implications: What You Need to Know

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cryptocurrency tax implications

Did you know that just about 1.62 percent of U.S. crypto owners told the IRS about their crypto in 20221? With more than $2.4 trillion in assets and 16,000 kinds of cryptocurrencies, the tax stakes are high2. Since the IRS sees cryptocurrencies as property, buying, selling, or using them can lead to taxes2. It’s important … Read more

Crypto Tax Implications: What You Need to Know

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tax implications of crypto

Did you know the IRS sees cryptocurrency like property, just like houses or stocks? According to IRS Notice 2014–21, this means dealing in cryptocurrency can either make or lose you money, affecting taxes. You’ll need to report these changes on Schedule D and Form 89491. It’s key to grasp how the IRS rules on crypto … Read more

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