Roughly four hours into a phone call with a TurboTax representative, I found out I probably didn’t owe any taxes on my admittedly meager bitcoin holdings. It should have been obvious.
Crypto Taxes 2020
The U.S. has been struggling to recognize cryptocurrency as a virtual asset, partly because the IRS hasn't figured out how to tax it. This year marks the first time a cryptocurrency question is on the IRS tax form. But the guidelines are still unclear. Here’s what we know and what we don’t about filing crypto taxes by July 15.