The IRS wants to know about your crypto transactions this tax season investinyou (In partnership with acorns.)
taxpayers about their crypto dealings for 2019 taxes. However, it posed the question on a Schedule 1 form, which not all taxpayers use. front-and-center on the 1040 — where it remained for the 2021 tax year.
However, the 2021 question is worded differently than it was for 2020. It asks taxpayers: "At any time during 2021, did you receive, sell, exchange or otherwise dispose of any financial interest in any virtual currency?" Last year's phrasing encompassed some non-taxable transactions, like simply holding crypto or sending holdings from one digital wallet to another, Chandrasekera said. The change in wording translates to a narrower set of transactions, he said.SIGN UP:
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