IRS Breaks Silence on Staking Income
The IRS has finally issued guidance on staking income. They state that cash-basis taxpayers must report the staking rewards when they have gained full dominion
November 24, 2023
No Comments
The IRS has finally issued guidance on staking income. They state that cash-basis taxpayers must report the staking rewards when they have gained full dominion
The IRS has finally broken its silence on the taxation of nonfungible tokens (NFTs) – at least partially. Notice 2023-27 gives us some indication of
The IRS has stated that a decline in the value of a cryptocurrency or NFT does not qualify as a loss under IRC section 165.
Qualified appraisals are required for any donation of cryptocurrency exceeding $5,000. The IRS also noted that if a taxpayer failed to obtain an appraisal, they
There is no clear consensus on whether or not crypto investors are able to take casualty or theft losses for funds held on defunct crypto
Last year we wrote a series of articles talking about the Jarrett v. U.S lawsuit and its implications for the taxability of staking income. The
Crypto investors are likely to get tax write-offs from assets held on insolvent exchanges, but they are probably going to have to wait a while.
Accelerating and increasing your income can be a good strategy during a bear market. You will pay the taxes sooner, but it may save you
Most people aren’t making a ton of money in crypto right now. The market is down substantially and a lot of people – especially those
Wrapping Bitcoin and other tokens allows them to be used on different networks. Is the act of wrapping and unwrapping these tokens taxable? Some experts
If you have a general inquiry and would like to speak to our expert team, you can contact us via the below contact form:
Your Privacy is our Policy
Enter your details below & let us know where to send your instant ebook download link...