The Internal Revenue Service (IRS) is the United States government agency responsible for collecting taxes. Bitcoin is a digital asset and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008. Bitcoin is unique in that there are a finite number of them: 21 million. […]
How Do I Report Crypto On Turbotax
Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Tax season is quickly approaching, and many people are wondering how they should report their cryptocurrency holdings on their […]
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How To Pay Taxes On Mined Bitcoin
If you are a miner of bitcoin, then you need to know how to pay taxes on mined bitcoin. The good news is that it is not as complicated as it may seem at first. The basic principle is that you need to report the fair market value of the bitcoin at the time it […]
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18 Min
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How To Track Crypto For Taxes
Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. The popularity of cryptocurrencies has surged in recent years, leading to increased scrutiny from tax authorities. How should taxpayers track […]
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20 Min
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What Is Crypto Cost Basis
Cryptocurrency cost basis is the original value of an asset for tax purposes. When you sell or trade a cryptocurrency, you need to report the cost basis to the Internal Revenue Service (IRS). This helps the IRS determine if you have made a profit or loss on the sale. There are a few different ways […]
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Which Irs Form For Crypto
Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. Cryptocurrencies are taxable assets, and the […]
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17 Min
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How To Report Crypto Staking On Taxes
Cryptocurrency staking can be a great way to earn passive income, but it’s important to understand how to report your staking income on your taxes. In order to report your staking income, you’ll need to know the fair market value of the cryptocurrency you staked. This can be tricky, because the value of cryptocurrencies can […]
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15 Min
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How To Report Bitcoin On Turbotax
When it comes to reporting your bitcoin transactions on Turbotax, there are a few things you need to keep in mind. In order to correctly report your bitcoin transactions, you need to know what a bitcoin is, how it is taxed, and how to value it. What is a Bitcoin? A bitcoin is a digital […]
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25 Min
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What Tax Form Is Needed For Crypto
What Tax Form Is Needed For Crypto? Cryptocurrencies are a new and exciting form of digital asset that is growing in popularity. As with any other form of income or investment, there are tax implications that come with owning and using cryptocurrencies. In the United States, the Internal Revenue Service (IRS) considers cryptocurrencies to be […]
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18 Min
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How Does Tax Work For Crypto
Cryptocurrencies, like Bitcoin, are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. The IRS treats cryptocurrencies as property for tax purposes. This means that when you buy, sell, or use […]
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22 Min
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