5 Common Cryptocurrency Tax Mistakes

Not reporting all crypto transactions to the IRS, including buys, sells, trades, air drops, mining, and staking rewards.

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Inaccurate record-keeping of crypto transactions, complicating determination of gains or losses for tax purposes.

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Relying on tax software not tailored for cryptocurrency transactions, risking errors in reporting.

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Missing tax filing deadlines, incurring penalties and interest, particularly for transactions needing Form 8949.

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Neglecting professional guidance or encountering filing complexities, risking incorrect reporting and penalties.

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