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Why is the IRS interested in my cryptocurrency?
Do you invest in cryptocurrencies? Are you wondering if it needs to be reported to the IRS? In this episode of the Jeff Trapp Podcast Show, Jeff clarifies key questions regarding the IRS's interest in cryptocurrency and its taxability. For example, there is a question found on the 1040 that asks "At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?" This one baffles many cryptocurrency investors. And as you may or may not know, there are times when you want to answer yes to this question, and other times when you…
The skinny
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