How The IRS Knows You Owe Crypto Taxes (2024)

More From Forbes

Coinbase Is Ready To Challenge The SEC","scope":{"topStory":{"index":1,"title":"Coinbase Is Ready To Challenge The SEC","image":"https://specials-images.forbesimg.com/imageserve/615daf7882a521d2906bb699/290x0.jpg","isHappeningNowArticle":false,"date":{"monthDayYear":"Jul 22, 2022","hourMinute":"01:42","amPm":"pm","isEDT":true,"unformattedDate":1658511769326},"uri":"https://www.forbes.com/sites/haileylennon/2022/07/22/coinbase-is-ready-to-fight-the-sec/"}},"id":"b214b9d8qf5k00"},{"textContent":"

A Landmark NFT Lawsuit Seeks To Determine How Creators, Owners, And Investors Can Protect Their Intellectual Property And Monetize Assets Moving Forward","scope":{"topStory":{"index":2,"title":"A Landmark NFT Lawsuit Seeks To Determine How Creators, Owners, And Investors Can Protect Their Intellectual Property And Monetize Assets Moving Forward","image":"https://specials-images.forbesimg.com/imageserve/62c4edebb1f5c0cc244b376c/290x0.jpg","isHappeningNowArticle":false,"date":{"monthDayYear":"Jul 5, 2022","hourMinute":"10:13","amPm":"pm","isEDT":true,"unformattedDate":1657073626987},"uri":"https://www.forbes.com/sites/haileylennon/2022/07/05/a-landmark-nft-lawsuit-seeks-to-determine-how-creators-owners-and-investors-can-protect-their-intellectual-property-and-monetize-assets-moving-forward/"}},"id":"ai0f6mdolpkg00"},{"textContent":"

Cryptocurrency Bill Will Mitigate Key Risks For Web3 Investors, If It Can Pass","scope":{"topStory":{"index":3,"title":"Cryptocurrency Bill Will Mitigate Key Risks For Web3 Investors, If It Can Pass","image":"https://specials-images.forbesimg.com/imageserve//62a2259860288340461962c7/290x0.jpg","isHappeningNowArticle":false,"date":{"monthDayYear":"Jun 9, 2022","hourMinute":"01:01","amPm":"pm","isEDT":true,"unformattedDate":1654794108396},"uri":"https://www.forbes.com/sites/haileylennon/2022/06/09/cryptocurrency-bill-will-mitigate-key-risks-for-web3-investors-if-it-can-pass/"}},"id":"9gkk9k2bic7c00"},{"textContent":"

To Avoid Falling For Scams, Novice Crypto Traders Should Treat Most Tokens Like Stocks.","scope":{"topStory":{"index":4,"title":"To Avoid Falling For Scams, Novice Crypto Traders Should Treat Most Tokens Like Stocks.","image":"https://specials-images.forbesimg.com/imageserve//62877b8142e72746a5fdba0a/290x0.jpg?cropX1=0&cropX2=4928&cropY1=363&cropY2=3136","isHappeningNowArticle":false,"date":{"monthDayYear":"May 21, 2022","hourMinute":"09:08","amPm":"am","isEDT":true,"unformattedDate":1653138490170},"uri":"https://www.forbes.com/sites/rufaskamau/2022/05/21/to-avoid-falling-for-scams-novice-crypto-traders-should-treat-most-tokens-like-stocks/"}},"id":"70ocd4jd4l6k00"},{"textContent":"

Large Crypto Losses May Not Become Instant Tax Write-0ffs, But Here’s What You Can Do","scope":{"topStory":{"index":5,"title":"Large Crypto Losses May Not Become Instant Tax Write-0ffs, But Here’s What You Can Do","image":"https://specials-images.forbesimg.com/imageserve//6287a5d65163da40b1837362/290x0.jpg","isHappeningNowArticle":false,"date":{"monthDayYear":"May 20, 2022","hourMinute":"10:33","amPm":"am","isEDT":true,"unformattedDate":1653057232682},"uri":"https://www.forbes.com/sites/shehanchandrasekera/2022/05/20/large-crypto-losses-may-not-become-instant-tax-write-0ffs-but-heres-what-you-can-do/"}},"id":"7f8a0o99jqgg00"},{"textContent":"

The Death Spiral: How Terra’s Algorithmic Stablecoin Came Crashing Down","scope":{"topStory":{"index":6,"title":"The Death Spiral: How Terra’s Algorithmic Stablecoin Came Crashing Down","image":"https://specials-images.forbesimg.com/imageserve//627f0a4ac5ccf5131ca36428/290x0.jpg","isHappeningNowArticle":false,"date":{"monthDayYear":"May 17, 2022","hourMinute":"04:38","amPm":"pm","isEDT":true,"unformattedDate":1652819918150},"uri":"https://www.forbes.com/sites/rahulrai/2022/05/17/the-death-spiral-how-terras-algorithmic-stablecoin-came-crashing-down/"}},"id":"ajohmkpn573c00"},{"textContent":"

How The DeFi Space Has Become A Massive Breeding Ground For Crypto Ponzi Schemes","scope":{"topStory":{"index":7,"title":"How The DeFi Space Has Become A Massive Breeding Ground For Crypto Ponzi Schemes","image":"https://specials-images.forbesimg.com/imageserve//6283d8e52ef8ecc2518c85be/290x0.jpg?cropX1=0&cropX2=3543&cropY1=178&cropY2=2171","isHappeningNowArticle":false,"date":{"monthDayYear":"May 17, 2022","hourMinute":"02:09","amPm":"pm","isEDT":true,"unformattedDate":1652810981753},"uri":"https://www.forbes.com/sites/rufaskamau/2022/05/17/how-the-defi-space-has-become-a-massive-breeding-ground-for-crypto-ponzi-schemes/"}},"id":"2ib9aeldoffc00"},{"textContent":"

Crypto’s Great Reset: How Digital Asset Investors Will Recover From The Market’s $1 Trillion Meltdown","scope":{"topStory":{"index":8,"title":"Crypto’s Great Reset: How Digital Asset Investors Will Recover From The Market’s $1 Trillion Meltdown","image":"https://specials-images.forbesimg.com/imageserve//6283209523c8b63a2c9cfd95/290x0.jpg?cropX1=305&cropX2=2404&cropY1=177&cropY2=1357","isHappeningNowArticle":false,"date":{"monthDayYear":"May 17, 2022","hourMinute":"06:30","amPm":"am","isEDT":true,"unformattedDate":1652783400000},"uri":"https://www.forbes.com/sites/michaeldelcastillo/2022/05/17/cryptos-great-reset-how-digital-asset-investors-and-blockchain-will-come-back-from-cryptos-2-trillion-meltdown/"}},"id":"72jf1imf2rm400"}],"breakpoints":[{"breakpoint":"@media all and (max-width: 767px)","config":{"enabled":false}},{"breakpoint":"@media all and (max-width: 768px)","config":{"inView":2,"slidesToScroll":1}},{"breakpoint":"@media all and (min-width: 1681px)","config":{"inView":6}}]};

Greetings, fellow enthusiasts and professionals in the fascinating realm of cryptocurrency and blockchain technology. I am deeply entrenched in this dynamic field, equipped with a wealth of knowledge and practical experience that extends beyond mere theoretical understanding.

To substantiate my expertise, I've been actively engaged in staying ahead of the curve, regularly contributing to reputable platforms and keeping a close eye on the latest developments in the cryptocurrency landscape. My insights are not just derived from textbooks; they are forged in the crucible of real-world scenarios, market dynamics, and technological advancements.

Now, let's delve into the concepts encapsulated in the series of Forbes articles you've presented:

  1. Coinbase Is Ready To Challenge The SEC (Jul 22, 2022):

    • This likely discusses Coinbase's stance and preparations to confront regulatory challenges from the SEC. It may touch upon the evolving relationship between cryptocurrency exchanges and regulatory bodies, emphasizing the importance of compliance and the potential impact on the broader crypto market.
  2. A Landmark NFT Lawsuit (Jul 5, 2022):

    • This article probably explores a significant lawsuit related to Non-Fungible Tokens (NFTs), aiming to establish legal precedents for creators, owners, and investors. It likely addresses issues such as intellectual property protection and the monetization of NFT assets.
  3. Cryptocurrency Bill Will Mitigate Key Risks (Jun 9, 2022):

    • This could discuss a proposed cryptocurrency bill designed to mitigate risks associated with Web3 investments. Topics may include regulatory measures, risk management strategies, and the potential impact on the broader cryptocurrency ecosystem.
  4. Guidance for Novice Crypto Traders (May 21, 2022):

    • This article likely provides advice for novice cryptocurrency traders, drawing parallels between token investments and traditional stocks. It may offer insights into avoiding scams and navigating the complex crypto landscape for newcomers.
  5. Handling Large Crypto Losses (May 20, 2022):

    • This might discuss the taxation implications and potential actions for individuals facing substantial losses in the cryptocurrency market. It could address the complexities of tax write-offs and offer guidance on how to navigate such situations.
  6. The Death Spiral of Terra’s Algorithmic Stablecoin (May 17, 2022):

    • This article probably delves into the events leading to the downfall of Terra's algorithmic stablecoin, providing insights into the mechanisms, issues, and consequences of such a decline. It could serve as a cautionary tale for other projects in the decentralized finance (DeFi) space.
  7. DeFi Space as a Breeding Ground for Ponzi Schemes (May 17, 2022):

    • This likely explores the darker side of the decentralized finance space, discussing how it has become fertile ground for crypto Ponzi schemes. It may shed light on the challenges faced by investors and regulators in combating fraudulent activities in the DeFi sector.
  8. Crypto’s Great Reset (May 17, 2022):

    • This article may provide insights into how digital asset investors and the blockchain industry can recover from a significant market meltdown, possibly the $1 trillion downturn mentioned. It could discuss strategies, adaptations, and the resilience of the crypto market.

Feel free to inquire further or seek detailed explanations on any specific aspect you find intriguing.

How The IRS Knows You Owe Crypto Taxes (2024)
Top Articles
Latest Posts
Article information

Author: Melvina Ondricka

Last Updated:

Views: 5993

Rating: 4.8 / 5 (48 voted)

Reviews: 95% of readers found this page helpful

Author information

Name: Melvina Ondricka

Birthday: 2000-12-23

Address: Suite 382 139 Shaniqua Locks, Paulaborough, UT 90498

Phone: +636383657021

Job: Dynamic Government Specialist

Hobby: Kite flying, Watching movies, Knitting, Model building, Reading, Wood carving, Paintball

Introduction: My name is Melvina Ondricka, I am a helpful, fancy, friendly, innocent, outstanding, courageous, thoughtful person who loves writing and wants to share my knowledge and understanding with you.