Legacy Tax & Resolution Services

Ask the Crypto TaxMan: If I hold coins in a personal wallet and HODL them, do I still have anything to report?

Ask the Crypto TaxMan:  If I hold coins in a personal wallet and HODL them, do I still have anything to report?

 

If you have not sold or exchanged anything, then you do not have a taxable event and have nothing to report,  Remember, it is CRITICAL that you answer yes to the question “did you receive, sell, exchange or otherwise acquire ANY financial interest in ANY virtual currency”.  

This would be equivalent to those people who did not report the foreign accounts and were exposed later.  Remember that whole fiasco and don’t be one of those people!  There is a reason the IRS is asking this question!

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