Tax Views: Taxation of cryptocurrency transactions | Vern Krishna

By Vern Krishna ( April 27, 2018, 8:34 AM EDT) -- With all the excitement concerning the price of cryptocurrencies, individuals and businesses have glossed over the fact that every cryptocurrency transaction is a taxable event that also has revenue implications. As with cannabis and cigarettes, trading in cryptocurrencies tends to be in the shadows, which has its own reporting temptations for taxpayers. However, as we approach the tax filing deadlines for 2018, taxpayers need to assemble their records in respect of their investments in cryptocurrencies....