This is most definitely not correct! People are getting this confused with forex (CURRENCY) trading. In the US, there is a $200 De Minimus exclusion for gains and losses on currencies. Remember, IRS considers cryptocurrency as PROPERTY and NOT A CURRENCY. Therefore, any gains and losses are reportable at dollar one.
Ask the Crypto TaxMan: I have heard that cryptocurrency transactions are only reportable over a specific amount, is this correct?
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