With tax day just two months away, many crypto investors are likely combing the internet for guidance on how to do their crypto taxes. Finding straightforward instructions is no easy feat. Crypto is such a new asset class, tax guidelines around it are constantly evolving.
Fortunately, the Early Investing team is here to help. In this episode of Crypto Insider, Vin Narayanan and Allison Brickell enlist the help of Brian Belley — experienced crypto investor and vice president of product at KingsCrowd — to explain how investors can approach their crypto taxes this April. (Just note that Early Investing is not a tax advisor, so none of this information is tax advice. Investors should consult a tax professional before doing their taxes.)
Here are some of the questions we tackle:
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- How does the current U.S. tax code treat crypto?
- How are crypto trading transactions taxed?
- How is crypto mining and staking income taxed?
- How is crypto spending taxed?
- How does the wash rule affect crypto?
- What services can help investors with their crypto taxes?
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- Source: https://earlyinvesting.com/crypto-insider-crypto-taxes-101/
