Sticky post

ALL CRYPTO TRANSACTIONS, INCLUDING NFTS AND STABLECOINS, WILL BE TAXED BY THE US

The authority changed the draft instructions for tax form 1040 in 2022 to include non-fungible tokens (NFTs) and stablecoins, replacing the term “virtual currency” with “digital assets.” The IRS defined digital assets as “any digital representations of value that are recorded on a cryptographically secured distributed ledger or any similar technology” in the recently released draft of the individual income tax return. Non-fungible tokens (NFTs) … Continue reading ALL CRYPTO TRANSACTIONS, INCLUDING NFTS AND STABLECOINS, WILL BE TAXED BY THE US