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The IRS will ask every taxpayer about crypto transactions this tax season — here’s how to report them

Posted in cryptocurrencies

Key point: For more information on the federal tax treatment of virtual currency transactions, see these FAQs on the IRS website.

How to report crypto gains and losses on your 2021 Form 1040.

Now for the meat of this column. Despite what the IRS says, let’s use the term cryptocurrency instead of virtual currency. Onward.

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