Cointelegraph: “How to Track and Report Crypto Transactions for Tax Purposes”
Cointelegraph has published a comprehensive guide to cryptocurrency and taxes, including capital gains and income taxes, long and short-term cryptocurrency tax rates, when crypto is not taxed, and how to track and report crypto transactions for tax purposes. The guide offers clarifying insights and advice for preparation and correct filing.
“As cryptocurrencies and blockchain assets continue to grow in popularity and mainstream adoption, the United States Internal Revenue Service has taken an increasing interest in their taxation.”
“In the U.S., cryptocurrency is subject to crypto tax and is classified as transactions instead of property or assets. Needless to say, failure to accurately track and report these transactions can result in penalties and fines.”
