Here's what you need to know for your 2020 taxes when reporting virtual currency to the IRS

Retrieved on: 2020-11-20 12:56:15

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Tax

Taxation in the United States

Ordinary income

United States federal income tax

Taxpayer

Internal Revenue Service

Mark Luscombe

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Here's what you need to know for your 2020 taxes when reporting virtual currency to the IRS. View article details on hiswai:

Excerpt

Know your basis, the fair market value of your crypto when you've made a ... The same applies if you received your Bitcoin in exchange for goods or ... swapping different cryptocurrency or using different exchanges or platforms, like ...

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