Crypto Taxation: What You Need To Know
Cryptocurrencies have become increasingly popular in recent years, but the topic of crypto taxation remains a complex and confusing issue for many individuals and businesses. In this article, we will explore the basics of crypto taxation, including how cryptocurrencies are taxed, what forms you need to file, and how to calculate your tax liability.
What is Cryptocurrency?
Before diving into the specifics of crypto taxation, it's important to have a basic understanding of what cryptocurrency is. Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate independently of a central bank. Some of the most popular cryptocurrencies include Bitcoin, Ethereum, and Litecoin.
How are Cryptocurrencies Taxed?
The IRS considers cryptocurrencies to be property ...