Cryptocurrency Tax News
The latest developments in crypto tax
IRS Letters 6173, 6174, and CP2000 and Crypto Assets
Aug 31st, 2021 — Did you receive an IRS Letter 6173, 6174, or 6174-A or a CP2000 notice for your crypto taxes? Learn what these letters mean and what actions you need to take.
Taxes on Crypto Margins Trading
Aug 31st, 2021 — Learn how to handle your crypto taxes if you have lent to margin traders on Bitfinex or used margin exchanges like Bitmex, Bybit, Deribit, and Kraken.
How Crypto Gifts Are Taxed
Aug 31st, 2021 — Crypto tax can get a little tricky when it comes to gifts. We explain how taxes work for both giving and receiving gifts of cryptocurrency.
How Crypto Hard Forks and Airdrops Are Taxed
Sep 1st, 2021 — Learn about the IRS' guidance on how crypto airdrops and hard forks are taxed.
How Are Stablecoins Taxed?
Aug 31st, 2021 — Stablecoins, like DAI, USDC, PAX, and USDT, are typically pegged to a fiat currency like the U.S. dollar. Here's how cryptocurrency tax works for these assets.
What You Need to Know About Crypto Mining Tax
Aug 26th, 2021 — Learn more about crypto mining taxes, including what expenses can be deducted.
How to File an FBAR for a Crypto Exchange
Aug 26th, 2021 — FinCEN has indicated that it will require an FBAR for crypto holdings of $10,000 or more on foreign exchanges. Learn more about the change and how to file.
Tax Rates for Cryptocurrency Explained
Sep 1st, 2021 — Crypto tax rates depend on your income level and how long you held the cryptocurrency. Find out what yours may be.
Taxes on Crypto Rewards: DeFi Staking, LP Tokens & More
Aug 26th, 2021 — Tokens earned from staking and yield farming are taxable, usually as income. Read more about crypto rewards tax treatment.
What To Do With A 1099 from Coinbase or Another Exchange
Aug 26th, 2021 — Don’t panic if you’ve received a Form 1099-MISC, 1099-K, or 1099-B from a crypto exchange such as Coinbase. Learn what these forms mean for your crypto taxes.
Explaining Short-Term and Long-Term Capital Gains
Aug 26th, 2021 — Your tax rate depends on how long you've held an asset. We explain the difference between long-term and short-term capital gains
6 Best Crypto Debit Cards: Benefits and Tax Implications
Aug 14th, 2021 — Crypto debit cards make it easy to use crypto for everyday transactions. We introduce top card providers and discuss what crypto debit cards mean for taxes.
Axie Infinity Taxes: What You Need to Know
Sep 13th, 2021 — Players are making significant income on Axie Infinity. Learn how to report earnings from axies on your taxes.
What Does a John Doe Summons Mean for Crypto Investors?
Aug 14th, 2021 — Recently, the IRS won John Doe summonses for several major crypto exchanges. We explain what this summons is and what it might mean for you.
DAO Taxes: What We Know So Far
Aug 14th, 2021 — There’s a lot of uncertainty about the taxation of DAO (Decentralized Autonomous Organization) profits and payments. We outline what you need to know.
Are Ethereum (ETH) Gas Fees Tax Deductible?
Aug 14th, 2021 — If you’ve made a transaction on Ethereum blockchain, you’ve paid gas fees. Learn how these fees may be able to offset your capital gains and income taxes.
What To Expect From An IRS or CRA Crypto Audit
Aug 19th, 2020 — Tax authorities, like the IRS or CRA, may audit you if you traded cryptocurrency. Learn what to expect and how to prepare yourself for a crypto tax audit.
The Best Crypto Trading Bots of 2021
Aug 25th, 2021 — Check out TokenTax’s recommendations for the best free and paid crypto bots for your cryptocurrency investing and trading.
The TokenTax Cryptocurrency Affiliate Program
Aug 24th, 2021 — Earn cash or crypto with TokenTax’s bitcoin affiliate program. Learn how to create a TokenTax referral link to earn money.
Does Coinbase Report to the IRS?
Jul 29th, 2021 — The IRS taxes crypto and has received user information from Coinbase for tax compliance purposes. Learn what Coinbase reports and what this means for you.
5 Best Crypto IRAs for 2021
Jul 29th, 2021 — You could avoid substantial tax costs by buying crypto with your IRA. Read our run-down of the top bitcoin IRA platforms.
The IRS Has Released New Crypto Tax Guidance
Sep 1st, 2021 — In a new FAQ, the IRS has supplied new answers regarding cryptocurrency tax treatment for situations like crypto hard forks and air drops.
Bittrex Is Shutting Down in New York. It's Important to Save Your Transaction Data: Here's How
Aug 19th, 2020 — Bittrex is shutting down NY operations. Learn how to get your trade data for taxes if you are a New York Bittrex user.
8 Best Crypto Loan Platforms
Aug 9th, 2021 — Thinking about getting a crypto-backed loan? Read about 8 leading DeFi and CeFi crypto lending platforms.
Creating an LLC or Corporation for Crypto Activities
Aug 14th, 2021 — If you are trading, mining, or earning crypto income, there could be benefits to creating an entity like an LLC or corporation. Learn more.
How to File a Tax Extension
Aug 14th, 2021 — If you're not finished filing after the tax deadline, you can file an extension or have your crypto tax professional do it for you. Learn the process.
California May Legalize Crypto for Cannabis Tax Payments
Sep 1st, 2021 — California lawmakers have introduced a bill that would allow cannabis-related business to pay taxes in stablecoins.
How To Find a Crypto Accountant
Jun 18th, 2021 — Do you need a crypto accountant? Learn the questions to ask when evaluating crypto CPAs.
How Advanced Crypto Tax Reconciliation Can Help
Aug 31st, 2021 — If you have a complex crypto trading history, missing trade data, or if you’ve been having trouble reconciling your taxes, TokenTax can help.
Wash Sales in Crypto: Learn the Rules
Aug 14th, 2021 — Cryptocurrency has been defined as property or assets by government bodies, thus exempting it from wash sale rules — but what if policy changes?