Digital Assets / Crypto IRS Notice
If you have run out of time to documeent and calculate your crypto transactions, you may need an extension to file.
IRS statement on digital assets: IRS Digitial Assets
IRS general guidance on when to check "Yes" for the Digital Assets question:
- Received digital assets as payment for property or services provided;
- Transferred digital assets for free (without receiving any consideration) as a bona fide gift;
- Received digital assets resulting from a reward or award;
- Received new digital assets resulting from mining, staking and similar activities;
- Received digital assets resulting from a hard fork (a branching of a cryptocurrency's blockchain that splits a single cryptocurrency into two);
- Disposed of digital assets in exchange for property or services;
- Disposed of a digital asset in exchange or trade for another digital asset;
- Sold a digital asset; or
- Otherwise disposed of any other financial interest in a digital asset.
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