taxes

IRS reminds taxpayers to report virtual currency transactions

General

WASHINGTON — The Internal Revenue Service today reminded taxpayers that income from virtual currency transactions is reportable on their income tax returns.

Virtual currency transactions are taxable by law just like transactions in any other property. The IRS has issued guidance in IRS Notice 2014-21 for use by taxpayers and their return preparers that addresses transactions in virtual currency, also known as digital currency.


Source: IRS

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https://www.irs.gov/newsroom/irs-reminds-taxpayers-to-report-virtual-currency-transactions

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