Crypto-currency is hot right now—and yes. It is definitely taxable this 2022 tax season. The IRS considers cryptocurrencies like Bitcoin, Ethereum and other forms to be “property” for tax purposes, which means your virtual currency is taxed in the same way as other assets you may own, like stocks or gold. “This year, the IRS is putting a lot of agents in surveillance mode for the agency,” says Rock&Hammer Partner Daniel Portillo. “The IRS has increased the number of its agents auditing personal tax returns, so it’s important to report all gains or losses related to virtual currencies.” 2021 was a big year for crypto, with many new investors buying … Read More
