No, cryptocurrencies are not considered “like-kind” property and do not qualify for Section 1031 exchanges. Intangible Assets Ineligible for 1031s Post-TJCA If you’ve read our
As you’ve likely seen if you’ve read our other articles, dealing with cryptocurrency taxes can be a nightmare. Almost every transaction is reportable in some
Currently, holding cryptocurrency does not require you file an FBAR filing on a FinCEN 114. Similarly, it also does not require a Form 8938. But
The majority of cryptocurrency activity will result in some sort of reportable transaction. This can cause difficulties both if you’re trading on a larger centralized
Selling vs. “Selling” For traditional investments there is something called the “Wash Sale Rule”. It states that if you sell a stock at a loss
Yes, airdrops are taxable income. Actual IRS Guidance on Airdrops Somewhat surprisingly, the IRS has issued specific guidance with respect to airdrops. As we’ve noted
Yes, interest earned on crypto is taxable income. Crypto Interest Taxation This is true regardless of where it is held. The most common scenarios we
In this article we are going to be speaking specifically for people who hold proof-of-stake (PoS) tokens as delegators, not those who are operating full-blown
Not all crypto is taxed the same way. Each category of cryptocurrency income has its own rules that must be followed. These different types of
As we’ve noted before, each time you trade one crypto token for another a capital gain or loss is created. And you need to report
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