To Report or Not to Report Cryptocurrency Gains

The temptation for cryptocurrency investors to not report gains is strong considering the IRS has a poor track record of catching cryptocurrency tax evaders. Only 802 people reported cryptocurrency gains or losses in 2015, which is even 91 less honest filers than the year before. The temptation to not report gains is possibly even stronger […]

IRS Guidance 101 on Cryptocurrency Taxes

Whether you hold ethereum, bitcoin, neo coin or some other form of digital currency, the IRS has provided guidance on how to treat your crypto portfolio for tax purposes. This may come as a surprise, but the IRS does not tax cryptocoins as a currency but rather as property. Per IRS bulletin 2014-21, “For federal […]