The deadline for Americans to file their tax returns this year is April 18, and crypto taxes remain unpleasant
.U.S. regulators and lawmakers have yet to introduce significant new rules or regulations when it comes to taxing digital assets.: "[In 2021] a lot of the major players… they showed an incredible amount of interest in helping people figure out their crypto taxes," CoinTracker head of tax strategy Shehan Chandrasekera told Axios.
"But still, there’s a huge gap between the number of people who have crypto and the number of people who have filed taxes on crypto in the U.S.," he added, pointing to a lack of awareness and information as the main reason.on certain issues and added a cryptocurrency question to its forms. In short, for the purposes of U.S. taxes, cryptocurrencies are treated as property and taxed on their capital gains.to issue 1099-B forms to their U.S.-based customers and the government starting in 2023 .Between the lines:
"The nuance that makes crypto extra complicated is that many people don't know their cost basis when they acquire the asset,"Many people don't get in the habit of keeping detailed records of their crypto transactions necessary to calculate their gains and losses, though a number of software tools for this have cropped up in recent years.
Yes, NFTs are taxable — specifically, the sale of cryptocurrencies like ether to make the purchase is a taxable event.that airdrops, such as acquiring a new cryptocurrency following a hard fork, are treated as ordinary income.
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