You mean you were paid cash basis? You want to be in Trump pack , no need, want to be in blue pack, you should. Kidding. In future if you need a proof of income , what are you going to do? Only proof is 1040 tax filing for you.

logan · Feb 10, 2020 6:01 PM

if you sold crypto at profit you need to.

maxpayne · Feb 10, 2020 9:00 PM

if you received letter 6174/ 6174A, you better cover your ass and report all of your profit and loss from virtual money. IRS knows your crypto transactions.its just a matter of transaction amount and their limited resource they can go after. Besides, its very hard to decide if its your schedule C or capital gain/loss transaction- meaning if its your property or security. Plus its very hard for normal people to keep track of base amount of each chain you purchase. that's why you hire Accountant. get it. lol .

kathkokta · Feb 11, 2020 11:28 AM