Traded cryptocurrency in 2021? Here's how to approach taxes

By SABRINA PARYS of NerdWalletAlternative finance has captured the attention of investors across the U.S. As the 2022 tax season approaches, traders who are new to cryptocurrency taxation will have to contend with the IRS’ rules for reporting on taxable events. This could be a difficult task for those who trade across a variety of platforms or who don’t understand their tax liability and the rates at which gains are taxed. There are many strateg…

2 years ago·Colorado Springs, United States

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KVIA

Traded cryptocurrency in 2021? Here's how to approach taxes

By SABRINA PARYS of NerdWalletAlternative finance has captured the attention of investors across the U.S. As the 2022 tax season approaches, traders who are new to cryptocurrency taxation will have to contend with the IRS’ rules for reporting on taxable events. This could be a difficult task for those who trade across a variety of platforms or who don’t understand their tax liability and the rates at which gains are taxed. There are many strateg…

2 years ago·Panama City, United States

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MY Northwest

Traded cryptocurrency in 2021? Here's how to approach taxes

Professionals have a major piece of advice for those who traded cryptocurrency for the first time last year: Take your tax prep seriously. The IRS has been zooming in on cryptocurrency reporting with increasing interest in recent years. And the last thing you want is to lose money and time reconciling your tax liability, says Douglas Boneparth, a New York City-based certified financial planner.So as tax season gets into full swing, here’s a quic…

2 years ago·Tacoma, United States

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NewsNation

Traded cryptocurrency in 2021? Here's how to approach taxes

(NerdWallet) — Professionals have a major piece of advice for those who traded cryptocurrency for the first time last year: Take your tax prep seriously.The IRS has been zooming in on cryptocurrency reporting with increasing interest in recent years. And the last thing you want is to lose money and time reconciling your tax liability, says Douglas Boneparth, a New York City-based certified financial planner.So as tax season gets into full swing,…

2 years ago·Chicago, United States

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WGNO

Traded cryptocurrency in 2021? Here’s how to approach taxes

Professionals have a major piece of advice for those who traded cryptocurrency for the first time last year: Take your tax prep seriously. The IRS has been zooming in on cryptocurrency reporting with increasing interest in recent years. And the last thing you want is to lose money and time reconciling your tax liability, says Douglas Boneparth, a New York City-based certified financial planner.So as tax season gets into full swing, here’s a quic…

2 years ago·New Orleans, United States

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