Is anyone reporting crypto ownership on their tax returns?
Investor interest in cryptocurrencies surged in 2017 with some valuations reaching all-time record highs. Every single trade and purchase using cryptocurrencies is considered a taxable event by the Internal Revenue Service.
An estimated 7 percent of Americans own Bitcoin or some other cryptocurrency, and they are likely to owe taxes to the IRS on those investments, but so far, almost no one is paying taxes on them, Fortune reported.
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