Tax return 101
You don’t have to be an expert to talk taxes. Just follow the five steps below to do your own taxes. You’ll also find answers to common questions about income tax returns.
Cryptocurrency can be used in multiple ways. But however you use it, you have to report your gains and losses.
False! In your annual income tax return , you must include all your income—whether it’s a gain from various investments, the sale of stocks or cryptocurrency transactions.
Unlike transactions with traditional financial institutions (banks, credit unions, etc.), you won’t get information slips for your cryptocurrency transactions each year. It is up to you to keep a record of your transactions, so that you can include your gains and losses in your next income tax return.