Questions tagged [file taxes]

Tommaso Sun Dec 08 2024 | 5 answers 544

I'm trying to figure out how much money I need to make through Mercari before I have to start filing taxes for it. I'm not sure if there's a specific threshold or if every penny needs to be reported.

Michele Sat Oct 26 2024 | 0 answers 0

I am wondering about the income threshold for filing taxes on TPT. Specifically, I want to know how much money I need to earn on the platform before I am required to report it for tax purposes.

KpopStarlight Sat Sep 07 2024 | 7 answers 1531

As a crypto investor, you may be wondering whether you need to file a 1040 tax form with the IRS. It's important to understand that, depending on your specific situation, you may be required to report your cryptocurrency transactions on your taxes. If you've bought or sold cryptocurrencies during the tax year, or if you've earned income from cryptocurrency-related activities such as mining or staking, you may need to include this information on your 1040 form. The IRS treats cryptocurrencies as property for tax purposes, which means that any gains or losses from transactions are subject to capital gains taxes. However, the rules can be complex, and it's important to consult with a tax professional to ensure that you're complying with all relevant tax laws. They can help you determine whether you need to file a 1040, and can provide guidance on how to accurately report your cryptocurrency transactions on your taxes. In summary, whether or not you need to file a 1040 as a crypto investor will depend on your specific circumstances. It's always best to err on the side of caution and consult with a tax professional to ensure compliance with tax laws.

BlockchainBaron Sat Jul 13 2024 | 7 answers 1654

As a cryptocurrency investor, I'm wondering how to properly file taxes on my digital assets. Could you provide me with a concise overview of the key steps involved? I'm particularly interested in understanding how to calculate my taxable income from crypto transactions, including both gains and losses. Also, I'm not sure if I need to report every single trade or if there's a threshold for when I should start filing. Finally, I'd appreciate any tips on how to keep accurate records to ensure I'm complying with all relevant tax regulations. Thank you for your assistance.

Arianna Sat Mar 30 2024 | 7 answers 2169

Excuse me, I'm a bit confused about cryptocurrency taxes. I've been investing in a few cryptocurrencies, but I'm not sure how much of it I need to declare when it comes to tax time. Could you possibly enlighten me on this matter? Is there a specific threshold or amount that triggers the need to file taxes on crypto? And if so, how does the process work? I'd appreciate your expertise in this area.