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If you’ve found your way to this video, you have probably been very successful in your cryptocurrency ventures. Fantastic!
➡️ Now you’re probably wondering how to report your crypto exchanges on your U.S. Tax Return.
Well, that’s what I’m here for! 🙌

You may have noticed there is a new Virtual Currency question on page 1 of the IRS Form 1040.

“At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Yes or No?”

🎥 In this video, I’ll explain to you how to answer this question as well as “what is” and “what is not” a reportedly cryptocurrency transaction according to the IRS (Internal Revenue Service).

💬 Drop me a comment below and let me know if this video was useful for you as you file your cryptocurrency taxes

👉 I appreciate every thumbs up and would love, if you’d consider subscribing to the channel!!

Thank you for watching!

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🎥 Welcome to the YouTube Channel for Tax.Crypto 🎥

My name is Emery Sheer and I have over 30 years of experience helping individuals and businesses successfully manage, protect and increase their wealth.

Now I’m here to help you do the same! 🏆

Tax.Crypto provides a global perspective to developing sound and innovative solutions that reduce tax liabilities, achieve maximum tax benefits and satisfy compliance obligations. 🎯

Tax Practice:
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🎬 So please subscribe and don’t forget to click the bell icon to be notified every time a new crypto video is posted 🔔

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⏰ Timestamps:
00:00 Intro
00:25 IRS Form 1040 Virtual Currency Question
01:20 How Cryptocurrency is recognized by the IRS
01:56 Reportable vs Non-Reportable Transactions
02:45 How Reportable Transactions are Taxed

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#CryptoTaxDeductions #IRSForm1040 #TaxCrypto

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