The Democratic presidential candidate further reaffirmed their position from May, advocating for the protection of individuals' rights to self-custody Bitcoin, operate blockchain nodes from their residences, and implement energy regulations that remain unbiased towards the industry.
Next week, new regulations are expected to be finalized that would mandate crypto companies, including those located outside the EU or dealing in non-fungible tokens, to register with tax authorities.
Officials are confident that next week, finance ministers will reach a formal agreement on legislation that permits the exchange of data regarding crypto and NFT assets among tax authorities.
Any cryptocurrency capital gains, capital losses, and taxable income need to be reported on your tax return. You can report your capital gains and...Read more
The IRS can track transactions through 1099 forms issued by major exchanges. In addition, the IRS has worked with contractors like Chainalysis to m...Read more
You are required to report all of your taxable income from cryptocurrency on your tax return, regardless of the amount.Read more
Reporting capital losses comes with a tax benefit. Capital losses can offset capital gains and up to $3,000 of personal income.Read more
Intentionally not reporting cryptocurrency on your taxes is considered tax evasion. The maximum penalty for tax evasion is a $100,000 fine and 5 ye...Read more
Hidden fees eat into your crypto profits —especially taxes. Watch the full video to see other fees that most people miss.
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