Martino
Sat Jun 22 2024
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6 answers
1371
Do I need to file a 1040 if I'm a crypto investor?
As a crypto investor, I'm wondering if I'm required to file a 1040 tax form. Given the volatile nature of cryptocurrency transactions and the complexities of calculating gains and losses, I'm concerned about fulfilling my tax obligations correctly. I understand that the IRS views cryptocurrency as property and taxes it accordingly, but I'm unclear on the specific requirements for filing. Should I include my crypto trades in my annual tax return? And if so, what records should I keep to support my calculations? I'd appreciate any clarity you can provide on this matter to ensure I'm in compliance with tax regulations.
