ShintoMystic
Tue Jun 11 2024
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7 answers
1677
How is cryptocurrency reported to the IRS?
Excuse me, I'm a bit puzzled about the tax reporting process for cryptocurrency. Could you please elaborate on how cryptocurrency transactions are reported to the IRS? Are there specific forms or procedures that need to be followed? Also, how does the IRS determine the taxable amount from these transactions? Is it based on the market value at the time of the transaction or some other criteria? I'd appreciate it if you could provide a clear and concise explanation of the entire process.
