Virtual Currencies And Your Taxes

Digital Assets | Prager Metis | Jul 26, 2022

As virtual currency transactions rise, so does the enforcement of virtual reporting requirements. When reporting cryptocurrency on your tax return, a good rule of thumb is that you must report it on your tax return if a taxable event occurs. For cryptocurrency, taxable events fall under two categories: Capital Gain and Ordinary Income Loss. Learn more about cryptocurrencies and your taxes here.

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