Watch your wallets
If 2017 was the year crypto users got rich, in 2018, the taxman is coming to collect.
In our Crypto & Taxes 2018 opinion series, CoinDesk dives deep into the implications for buyers, speculators and HODLers in the U.S., breaking down the issues and trends that will be top of mind as we head toward April 15.
From beginner's guides to think pieces, our series aims to offer a broad overview, one filled with actionable insights and food for thought.
The views expressed are solely those of the authors.
Taxing All Bitcoin Buying Will Backfire for the IRS
The IRS' 2014 tax guidance may encourage cryptocurrency users to use unregulated foreign exchanges and use privacy coins like monero or zcash.
Does the IRS Get a Cut of Your Bitcoin Cash?
The tax treatment of hard forks in the U.S. is uncertain and the IRS should issue guidance addressing such issues, says a legal expert.
Everything You Were Afraid to Ask About Crypto Taxes
There's a lot of information to process, but ignoring it can be hazardous. The IRS is going to come after investors who are not reporting their gains.
The Maddening Task of Calculating Taxes on Crypto
Calculating tax exposure is always a data-heavy business process. With regular assets, this process is simple. In cryptocurrency, it's anything but.
Do You Owe the IRS for Crypto-to-Crypto Trades?
For cryptocurrency traders, the ability to use like-kind exchange rules to avoid U.S. tax on trades is a bit of a “good news/bad news” story.
How Active Crypto Traders Can Save on US Taxes
Active crypto traders can qualify for trader tax status (TTS) to deduct business and home-office expenses. And there might be an additional benefit.
Don't Forget the 'Other' Cryptocurrency Tax
If cryptocurrency gains acceptance as a means of exchange, it’s sure to raise the ire of governments hungry for revenue from sales taxes.
What the Taxman Can Learn from Crypto
Cryptocurrency reminds us that tax and other rules need to be fluid, as inaction or inappropriate responses can halt or slow technological advances.
US Crypto Tax Policy Isn't Just Crazy, It's Cruel
There is something extraordinarily cruel, crazy even, in the IRS’s approach of treating virtual currencies as property for tax purposes.
How to Mount a Tax Defense for Unreported Crypto Income
Most individuals with unreported cryptocurrency income have options available to mitigate and defend against civil penalties and criminal prosecution.
5 Steps to Stress-Free Crypto Tax Accounting
The prudent individual or business must keep up with regulation and develop a process to organize data related to trading cryptocurrency. Here's how.
Bitcoin Forks and Livestock Law? Tax Day 2018 Is a Different Animal
U.S. income tax treatment of forks is unclear. A conservative approach would be to treat the receipt of new cryptocurrency as taxable ordinary income.
Making the Most of Crypto Mining Tax Breaks
From depreciation of rig equipment to a second reporting and tax requirement after mined coins are sold, tax rules for miners can get complicated.
What You Don't Know About Crypto Taxes Can Hurt You
There has been no new cryptocurrency tax guidance from the IRS since 2014. Consequently, few investors fully understand how to treat 2017 gains.
Crypto Tax Support Is Coming Slowly to India
A partnership finds two India-based startups seeking to provide tools to crypto users who may need to report gains and losses on their 2018 taxes.
A Hobbyist Crypto Trader's Life in Tax Hell
The spreadsheet got more and more complicated, until one day it took two minutes to load.
A Bitcoin Rally After Tax Day? Don't Bet the Farm On It
There are several reasons to discount the contribution of tax-related selling to the Q1 bear market – and thus the chances of a post-April 17 rebound.
Crypto Tax Dodgers Are Tempting Fate
The ways governments tax cryptocurrency users may be unjust and due for reform, but simply ignoring the law for this reason is a dicey proposition.
What If You Can't Pay Taxes on Your Crypto Gains?
Crypto holders willing to take a risk can file an extension, pay their taxes in installments with penalties and interest, and possibly come out ahead.
What ICO Issuers and Investors Need to Know About Taxes
There is little guidance from the IRS on how to treat a token offering or SAFT for tax purposes. Determining how to do so is a fact-intensive process.
Why the IRS Should Treat Crypto as a New Asset Class
Tax pros in the cryptocurrency space are applying a hodgepodge of rules that historically have been applied to stocks, bonds and various other assets.