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Here’s what you need to know about taxes when trading crypto
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Taxpayers who trade cryptocurrencies or other digital assets had a wild ride last year, and that doesn’t stop when it comes to US tax time.
Cryptocurrencies like bitcoin and ethereum see-sawed wildly in 2021 as many investors moved in and out of the currencies, effectively day-trading them. Now the IRS expects gains, losses and income to be reported on individuals’ 2021 tax returns and is flexing its enforcement muscle to collect its due.
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