Cryptocurrencies
Cryptocurrency Investors Get New IRS Income-Reporting Rules
- Tax guidance tells investors how to treat coin splits
- IRS is increasingly enforcing tax rules for cryptocurrency
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Cryptocurrency holders know more about what the Internal Revenue Service expects to see on their tax returns, thanks to new guidance from the agency.
The IRS released a ruling and a question-and-answer document Wednesday that tell virtual currency investors and their tax advisers how the agency expects them to report income from their holdings. The guidance is the first since 2014 and comes as tax auditors are increasingly focusing on examining individuals with cryptocurrency investments.