A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that taxpayers must accurately report crypto transactions to the IRS. The bitcoin investor now faces up to three years […]
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Last Thanksgiving, Bitcoin was in the middle of a bull run that would result in a record high of $19,511 just before Christmas. Now, Bitcoin is worth just $3,752.
If you bought Bitcoin and other cryptos when their prices were high, there’s a silver lining around the gray state of crypto markets now: any losses you take this year could place you in a lower tax bracket. What’s more, claiming those losses is easier than you might assume.
The post PR: Write off Crypto Losses With CoinTracking.info appeared first on Bitcoin News.
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