Cryptocurrency and Taxes: How to Report Crypto on Your Tax Return | Tax Info from IRS.com

Virtual currency has sparked a lot of controversy lately, especially regarding scandals between cryptocurrency and taxes. But you can avoid problems with the IRS by reporting you crypto and virtual currency gains or losses correctly! This video will cover what crypto is, how to report it on your tax returns, and what records you should maintain for your virtual currency transactions. ------------------------------------- Tax Advice for Real People We provide practical easy to understand tax advice, prepared by leading tax experts in the USA. ------------------------------------- Resources https://www.irs.com/en/virtual-currency-taxes-faqs/ ------------------------------------- Contents of this Video: 00:00 Intro 01:18 What is crypto? 04:26 When to tell the IRS you bought crypto? 05:55 How is crypto taxed?