Many Bitcoin, Cryptocurrency Owners Not Reporting Holdings On Their Taxes, Report Says
8 days ago - By CBS
CBS Local - Last year was a big year for Bitcoin as the online currency skyrocketed to nearly $20,000 in value. However, a new report claims that many investors are failing to report the big gains on their taxes.
While the value has dropped dramatically in 2018, investors are still on the hook for last year's cryptocurrency transactions. According to Credit Karma, less than 100 people out of 250,000 who have filed their 2017 taxes through the company have reported buying cryptocurrency. That number falls far short of the 57 percent of Americans polled who said they had cashed in on the...
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