Tag Archives: Taxes

How to handle cryptocurrency on your taxes

Before you jump into this overview of how to buy and sell Bitcoin, check out our first article in this series, Bitcoin, explained. It’s been a wild ride for cryptocurrency enthusiasts over the past few months.  After ascending to a high water mark of $19,205 in December 2017, the world’s preeminent cryptocurrency — that’s bitcoin — shed […]

Everything you need to know about bitcoin and your taxes

Bitcoin had its coming-out party in 2017. With all the excitement and opportunities around cryptcurrency, it might be easy to forget about crypto taxation. Almost every bitcoin or other “altcoin” transaction — mining, spending, trading, exchanging, air drops, etc. — will likely be a taxable event for U.S. tax purposes. Without a doubt, 2018 will […]

How to know whether you owe taxes on bitcoin

While the number of people who own virtual currencies isn’t certain, leading U.S. cryptocurrency exchange Coinbase had an estimated 11.7 million users at the end of October 2017, according to data compiled by Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund. (That topped the number of active brokerage accounts then open […]

Cryptocurrency ‘grossly underreported’ on taxes, says lawyer – Saskatchewan

Cryptocurrency investors need to prepare for the tax season like everyone else. Alexia Hefti, blockchain tax lead at Deloitte, said it’s a common misconception that you only have to report your gains when you trade cryptocurrency back into Canadian dollars. Another misconception is that people actively trading cryptocurrencies don’t need to record those trades. “A […]

Paying Your Taxes With Bitcoin or Litecoin May Soon Be a Possibility in This State — The Motley Fool

Though the cryptocurrency market has hit a few speed bumps over the past month, its value has still soared relative to where it began 2017. As of Feb. 13, cryptocurrencies were worth an aggregate of $410 billion, representing a more than 2,200% increase from 13 1/2 months prior. Those are gains that investors traditionally wouldn’t […]

Out of 250,000 cryptocurrency traders, less than 100 paid taxes, according to survey

As nearly all major digital assets on Wednesday were rallying, the cryptocurrency market was contemplating a notable climb in Litecoin and questions about which digital-asset traders are forking over money to the Internal Revenue Service. Almost no one is paying taxes Of the first 250,000 tax filings, less than 100 people reported owning any cryptocurrency, […]

Few People Have Reported Cryptocurrency Gains on Their Taxes So Far

A majority of American cryptocurrency investors have not yet reported their crypto investments to the Internal Revenue Service, according to Credit Karma, a startup that enables free credit score checks. The service says less than 100 people have reported gains from cryptocurrency investments out of the 250,000 Americans who have already filed their federal tax returns […]

Barely anyone is paying the taxes they owe on their bitcoin gains

A tiny fraction of Americans are reporting their cryptocurrency transactions to the Internal Revenue Service, according to a study from Credit Karma Tax. Fewer than 100 of 250,000 federal tax returns prepared and filed so far this year through the company have filed a Form 8949 for cryptocurrency gains and losses, Credit Karma said Tuesday. […]

Bitcoin price LIVE: ‘Dudes pay your taxes’ fund manager warns of BTC tax crackdown in US | City & Business | Finance

7.30am MORNING HEADLINES Updates below throughout the day…. It’s good news for wallet holders after Pantera Capital founder and Chief Executive Officer Dan Morehead made a bullish call on bitcoin and the cryptocurrency market over the coming month. Speaking to CNBC Mr Morehead said: “We’re certainly aware that it’s a very speculative market. “Its volatile […]

Chinese (Simplified)EnglishJapaneseKorean