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IRS Will Probably Add Crypto-Related Questions In Income Tax Form 1040 Next Year
Summary: On August 19, the U.S. Internal Revenue Service released drafts of income tax form for 2020, which includes crypto-related questions that may appear to every American citizen. The form asks: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” The question appears in ...
On August 19, the U.S. Internal Revenue Service released drafts of income tax form for 2020, which includes crypto-related questions that may appear to every American citizen.
The form asks: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” The question appears in the center and front of the draft version of IRS Form 1040 for 2020.
As cryptocurrency reaches wider audiences, tax agencies start to take the industry more seriously.
By Lily Yang
Tags: Cryptocurrency,IRS
Link: IRS Will Probably Add Crypto-Related Questions In Income Tax Form 1040 Next Year [Copy]
