Everyone who files a Form 1040, 1040-SR or 1040-NR will have to check one box, answering either yes or no to the digital asset question: “At any time during 2022, did you: receive (as a reward, award or payment for property or services); or sell, exchange, gift or otherwise dispose of a digital asset (or
TIPS TO CUT YOUR CRYPTO TAXES
Of course there are strategies to minimize how much crypto tax you pay, the key is to understand how exactly crypto is taxed. Maybe you are planning on holding onto your Bitcoin forever – or just waiting for a better exit point. Before you hit the “sell” button, think about how you’re going to deal
Don’t Get Caught Making These Crypto Mistakes
As Elon Musk is rumored to have said: “Crypto is everything you don’t understand about finance combined with everything you don’t understand about computers.” In that vein, we decided to compile some tips to help keep your digital wallet safe. New crypto investors should avoid beginner blunders that can cost them. Savvy investors should not
Crunch Time for Crypto Taxation
Bitcoin rose above $52,000 on February 17th and has gained over 400% in 12 months. If you were lucky and bought bitcoin when it was worth less, you are sitting on big gains, which is why it is important to understand that the IRS views bitcoin and other cryptocurrencies as assets. Not currency and not
