What to Know About Cryptocurrency and Taxes
Ann Carrns��Reporting on the 2021 Tax Season
The federal revenue tax return asks a query about crypto proper firstly: “At any time throughout 2021, did you obtain, promote, alternate or in any other case get rid of any monetary curiosity in any digital forex?”
When you purchased cryptocurrency and held onto it, you possibly can reply “no.”
However in case you bought or traded crypto or used it to purchase items or companies, the reply is “sure,” and chances are you’ll want to supply particulars elsewhere on the return.