Have You Received a CP200 Tax Notice Related to Your Cryptocurrency Taxes?
Articles/News, Hot TopicsPosted on November 30, 2020
Just like other types of investment transactions, cryptocurrency sales and trades are considered taxable events under the Internal Revenue Code. This does not necessarily mean that you owe tax on the transaction (if you lost money on a trade, for example, you would not owe tax), but it does mean that you have an obligation to report the transaction to the Internal Revenue Service (IRS) and pay tax if tax is owed.
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