cryptocurrency taxes

How do I report back taxes when I discover old crypto trades on a defunct exchange, and what records will the IRS accept?

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Discovering Old Crypto Trades: Your Tax Reporting Obligations Finding records of cryptocurrency trades on exchanges that no longer operate can create a complex tax situation, but you’re still required to report these transactions to the IRS. The good news is that the IRS provides pathways for taxpayers to come into compliance, even when documentation is … 더 읽기

Do wash sale rules apply if I harvest crypto losses and buy back within 30 days, and is there proposed legislation I should anticipate?

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Current State of Crypto Wash Sale Rules Currently, the IRS wash sale rules do not apply to cryptocurrency transactions, meaning investors can harvest crypto losses and repurchase the same digital assets within 30 days without triggering wash sale restrictions. However, proposed federal legislation could change this landscape significantly, making it crucial for crypto investors to … 더 읽기