The crypto exchange caused controversy when they stated that the Pepe the Frog meme had been taken over as a symbol of hate by alt-right groups.
The OECD is working on new regulations to prevent crypto from being used to hide assets from the taxman.
If Americans' financial privacy is being infringed, they have the right to know how the government is defending it.
Any cryptocurrency capital gains, capital losses, or income events need to be reported on your tax return. You can report these events on Form 8949...Read more
Reporting capital losses comes with a tax benefit. Reporting capital losses can offset capital gains and up to $3000 of personal income.Read more
Not reporting cryptocurrency on your taxes is considered tax evasion. The maximum penalty for tax evasion is a $100,000 fine and 5 years imprisonment.Read more
Several tax forms include:
| TaxAct Blog
• Reporting your crypto activity requires using Form 1040 Schedule D as your crypto tax form to reconcile your capital gains and losses and Form 8949 if necessary. • You report your total capital gains or losses on your Form 1040, line 7.
With your crypto taxes calculated, there’s one thing left to do… bring it all together in an IRS-compliant report. However you prefer to file, Koinly has the report you need. There are three main ways to file, so let’s take a quick look at each.
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