JD De Leon JDDec 28, 2021 · 3 years ago8 answers What are the tax implications for cryptocurrency transactions in the US?
Can you explain the tax implications of cryptocurrency transactions in the United States? I would like to know how the IRS treats cryptocurrency for tax purposes and what are the reporting requirements for individuals and businesses. Are there any specific tax forms that need to be filled out? How are capital gains and losses calculated? Are there any tax deductions or credits available for cryptocurrency transactions? What happens if I fail to report my cryptocurrency transactions to the IRS?