Decoding Crypto Tax: A Guide Through Shifting Sands
Navigating the world of cryptocurrency can feel like entering a new frontier, brimming with opportunities for Innovation and investment. However, like any financial endeavor, understanding the tax implications is crucial. Crypto tax can be complex and confusing, but ignoring it can lead to penalties and legal issues. This comprehensive guide will demystify crypto tax, helping you understand your obligations and navigate the tax landscape with confidence.
Understanding Crypto as Property
Crypto is Taxed as Property, Not Currency
The IRS classifies cryptocurrency as property, not currency. This distinction is vital because it determines how crypto transactions are taxed. When you sell, trade, or even use crypto to purchase goods or services, the IRS treats it as selling property. This means ...








