Bronze Supporter
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Key Points
- Cryptocurrency holders are cashing in on a surge in bitcoin prices, but the IRS is stepping up oversight, and any taxes owed will need to be paid.
- For tax purposes, the IRS considers crypto as property, meaning that the rules for gains or losses work much like they do for stocks.
- For the 2025 tax year, brokers will have to report sale proceeds to the IRS for crypto held in a taxable account.
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