Crypto purchases do not trigger IRS reporting
https://news.bloombergtax.com/daily-tax-report/crypto-purchases-dont-trigger-irs-reporting-requirement?context=search&index=0 Individuals who only purchased cryptocurrency with U.S. dollars and other real currency in 2020 don’t need to disclose that to the IRS this filing season, the agency said in a recent update to its website. The IRS announced its new position in its frequently asked questions on virtual currency transactions. Individuals who purchase cryptocurrency with another … Read more