Tax
May 1, 2024
Keeping track of crypto tax matters is complex and important
Section 1031 of the tax code, which allows for like-kind exchanges of property, does not apply to cryptocurrency. Therefore, swapping one crypto for another, or exchanging crypto for goods or services, is a taxable event that must be reported.
The dreaded April 15 tax filing deadline is behind us. But if you are like millions of other Americans, you went on extension for your personal tax returns. An automatic extension gives you until October 15 to prepare and file your returns, even though your payment was due April 15th. If among your tax items for 2023 you have crypto tax issues, it is worth drilling down into the range of possible tax and recordkeeping hassles that you and your tax preparer may face. ...
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