Last Updated on March 17, 2024 by Paganoto
Your Crypto Tax Guide – TurboTax Tax Tips & Videos
Your Crypto Tax Guide – TurboTax Tax Tips & Videos
People might refer to cryptocurrency as a virtual currency, but it's not a true currency in the eyes of the IRS. According to IRS Notice 2014-21, the IRS considers cryptocurrency to be property, and capital gains and losses need to be reported on Schedule D and Form 8949 if necessary.Jul 14, 2022
Frequently Asked Questions on Virtual Currency Transactions
Frequently Asked Questions on Virtual Currency Transactions
The IRS uses the term “virtual currency” in these FAQs to describe the various types of convertible virtual currency that are used as a medium of exchange, such …
Virtual Currencies – Internal Revenue Service
Virtual Currencies – Internal Revenue Service
Review IRS tax guidance related to individual and business transactions using virtual currencies, such as Bitcoins or other similar currencies.
Cryptocurrency Tax Guide — How to File in 2022 – Time
Cryptocurrency Tax Guide — How to File in 2022 – Time
Yes, your Bitcoin, Ethereum, and other cryptocurrencies are taxable. The IRS considers cryptocurrency holdings to be “property” for tax …
How to Report Cryptocurrency On Your Taxes in 5 Steps
How to Report Cryptocurrency On Your Taxes in 5 Steps
Complete IRS Form 8949
IRS releases first cryptocurrency guidance in five years
IRS releases first cryptocurrency guidance in five years
The IRS has not released significant guidance on virtual currency transactions in over five years. In March 2014, the IRS issued Notice 2014-21 (the Notice), …
How The IRS Is Looking For Its Share Of Cryptocurrency And …
How The IRS Is Looking For Its Share Of Cryptocurrency And …
The IRS clearly states that for federal tax purposes, virtual currency is treated as property. The IRS also provided that general tax principles …
The IRS Is Working On A New Tax Form To Capture … – Forbes
The IRS Is Working On A New Tax Form To Capture … – Forbes
Regulations (commonly referred to as Regs) interpret legislation and give specific directions on how to comply with the law. As a part of the …
3 Crypto Tax Tips to Avoid IRS Trouble – CoinDesk
3 Crypto Tax Tips to Avoid IRS Trouble – CoinDesk
Exchanging your crypto for another crypto or for NFTs is a taxable event … The IRS considers crypto property, which means that if you sell or …
Making money on crypto? Yes, the IRS expects a cut – CNN
Making money on crypto? Yes, the IRS expects a cut – CNN
Buying and holding: Simply buying and holding a virtual currency such as crypto is not taxable. And you don’t have to report the specifics on …
Pagaonoto is an SEO editor and cryptocurrency researcher for various publications.