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IRS To Ask About Your Crypto On New Tax Form

IRS To Ask About Your Crypto On New Tax Form

The IRS wants to know about your crypto and is taking steps to find force disclosure. In a move similar to questions on offshore bank accounts, the U.S. tax authority is planning to directly ask those filing U.S. federal taxes about crypto usage.

On Oct. 11, a draft of the “Additional Income and Adjustments to Income” section of the new 1040 form surfaced that included a change was made to the ‘Additional Income and Adjustments to Income’ section. On the new 1040 form, the additional question reads:

“At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”

The question expects a straightforward yes or no, with no additional details requested, reported Coin Telegraph.

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1 comment

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Bob October 13, 2019 at 4:26 am

Hahahaha , No!

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