Will the IRS Take Payments In Cryptocurrency? With the IRS cracking down on taxable cryptocurrency transactions, may may wonder if the agency will also take
Cryptocurrency and the Wash Sale Rule The IRS classifies cryptocurrencies like Bitcoin, Ethereum, Dogecoin, or Shiba Inu as property. Cryptocurrency investors are subject to the
Is Crypto Staking Taxable? Receiving staking rewards is a taxable event in the U.S, similar to receiving interest from your crypto from comparable investment vehicles.
Cryptocurrency and FATCA What are the FATCA Tax Reporting Requirements? Under the Foreign Account Tax Compliance Act (FATCA), U.S. taxpayers who meet certain thresholds of
What is Crypto Mining? How is it Taxed? Crypto mining is a process in which a machine performs certain tasks to obtain a little bit
Taxpayers are required to report every sale or trade of cryptocurrency, its associated cost basis, holding period, proceeds, and acquisition date. This is reported on
Using crypto to purchase goods or services will result in a gain or loss, depending on whether the coin went up or down in value
This is such an excellent question that I am going to answer it in two parts. Part one address the combining of accounts. This transaction
The movement of coins, “in kind”, from one exchange to another is not a taxable event. However, the movement of the currency to the other
To answer that question, you have to understand how the IRS treats cryptocurrency. The IRS considered cryptocurrency to be “PROPERTY”. With the exception of rollover
