???????????? ???????????? ???????????? ???????????????????? ???????????? ???????????????????????????? ???????????????????????????????? ???????????????????????????????? from Schedule 1 of the 2019 Form 1040 to the first page of the 2020 Form 1040 and Form 1040-SR. The question asks, “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” Reportable items include but are not limited to (1) the receipt or transfer of virtual currency for free; (2) an exchange of virtual currency for goods or services; (3) a sale of virtual currency; (4) an exchange of virtual currency for other property; and (5) a disposition of a financial interest in virtual currency. For more information, go to www.IRS.gov/virtualcurrencyfaqs.
Important Crypto & Virtual Currency Update
by Steven J Weil, PhD, EA, LCAM | Feb 23, 2021 | Blog, Business Tax, Investments, Personal Tax