Learn 6 top things new crypto investors should know when filing a US 2021 Crypto Tax Return.
6 Things To Know About Your 2021 Crypto Tax Return
What is a 1099-K and a 1099-MISC?
You are required to receive one of two tax forms: Form 1099-K and Form 1099-MISC. Regardless if you’re a freelancer, entrepreneur, cryptocurrency trader, etc.,you aren’t exempt from reporting your income to the Internal Revenue Service (IRS) every year. What is the 1099-K? Form 1099-K, or the Payment Card and Third Party Network Transactions, is given
2020 – 2021 IRS Tax Rates for Cryptocurrencies
Cryptocurrencies are taxed based on capital gains or income. Capital gain apply for cryptocurrencies like in any other property and it depends on the holding period. For a holding period equal to or under a year, this tax rate and calculation are the same as ordinary income, and the tax rates are summarized in the
7 Frequently Asked Crypto Tax Questions
Ever since the IRS introduced a new question in their Form 1040 that essentially required taxpayers to declare whether or not they’re engaged in cryptocurrency trading, many crypto traders have been wondering what this means for them. Below is a roundup of answers to common crypto tax questions to help you navigate this unfamiliar territory.
Taxes on EPL Crypto Bets
Not many saw cryptocurrency mixing with the English Premier League, but the sector found its way into the field. Several deals have been made with various clubs, paving the way for potential long-term partnerships for this unlikely pair. Bitcoin ads were recently seen during a Tottenham versus Liverpool match. It’s the first of its kind