It’s important for individuals and businesses to understand how to report crypto transactions so that they can properly file their taxes. 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 […]
What Happens If You Dont File Crypto
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. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can […]
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When Do You Have To File Crypto Taxes
The Internal Revenue Service (IRS) released guidance in 2014 on how to treat digital currencies for tax purposes. The guidance provides that digital currencies are to be treated as property for federal tax purposes. This means that when you use digital currencies to purchase goods or services, you must report the fair market value of […]
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