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Cryptocurrency and Taxes: What You Need to Know

PC Mag: “For the fourth year, federal tax forms ask you about Bitcoin and other cryptocurrency activities. The Yes or No question that’s been appearing at the top of Form 1040 has gotten even more specific for the 2022 tax year. It reads, “At any time during 2022, did you: (a) receive (as a reward, award, or payment for property or services); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?” What do you do if you check the Yes box? How do you enter these transactions as you prepare your income tax return? We have answers to these questions and more…”

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