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New IRS Rules for Crypto Are Insane! How They Affect You!The IRS declared that any cryptocurrency with an equivalent cash value is to be treated as property for tax purposes, and transactions are. If you acquire bitcoin as an investment, any profits resulting from the sale are not assessable as ordinary income and no deductions can be claimed. However. Crypto fees are often tax deductible. This means that when you buy, sell, or exchange crypto, any fees associated with the transaction should be deducted from.
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