Private Letter Ruling PDF - CCA PDF - Describes the additional units of cryptocurrency from in the digital asset industry. Basis of Assets, Publication - digital asset are generally required. Page Last Reviewed or Updated: Sep Share Facebook Twitter Linkedin.
Despite the decentralized, virtual nature of cryptocurrency, and because the IRS treats it like property, your gains and losses in crypto transactions will typically affect your taxes. Regardless of whether you had a gain or loss, these transactions need to be reported on your tax return on Form If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest. You may also need to report this activity on Form in the event information reported on Forms B needs to be reconciled with the amounts reported on your Schedule D. TaxBit is building the industry-leading solution for tracking cost basis across a network of top exchanges, wallets, and platforms.
