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Thursday, June 1, 2023

4 Crypto Tax Myths You Need to Know

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Key Takeaways

• The IRS treats cryptocurrency as “property.” If you purchase, promote or trade this digital foreign money, you’re doubtless going to want to pay crypto taxes.

TurboTax Premier makes it simple and quick to import, add, and precisely report your investments, effortlessly. You can auto import over 3500 transactions simply, whether or not from shares, crypto, ESPPs, robo-investing, and extra. Start totally free and stand up to a further $15 off if you file with TurboTax Premier. 

• You also can set off a tax legal responsibility for crypto exercise by incomes it as earnings or utilizing it as foreign money to your purchases.

Source: www.thestreet.com

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