Nick Peterson - 2020 Cryptocurrency Reporting - Vlog #2

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romaralsports
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I discuss recently released IRS guidance providing that that individuals who purchased cryptocurrency with real currency and had no other cryptocurrency transactions during 2020 are not required to disclose their ownership on their 2020 income tax return.

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→ Sources:
https://news.bloombergtax.com/daily-tax-report/crypto-purchases-dont-trigger-irs-reporting-requirement
https://news.bloombergtax.com/daily-tax-report/irs-stance-on-crypto-spurs-confusion-relief-in-tax-profession
https://www.taxnotes.com/tax-notes-federal/cryptocurrency/irs-updates-faqs-address-crypto-purchases/2021/03/08/3k57j
Category
Crypto Investing
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