Todd's Tax Service LLC
If you already have a CRYPTO account, be sure to include any 1099s issued by your crypto exchange with your tax documents so the information can be included in your tax return.
The IRS now requires all taxpayers to answer a question regarding whether or not they have any interest in crypto currency. All transactions must be disclosed to the IRS. Any gain or loss is taxable as ordinary income in most cases.
I advise against participation in this lunacy. But don't take my word for it, read the following editorial copied from the Wall Street Journal on December 20, 2022. (It should be a "free link").
Folks who get involved with CRYPTO are often looking for quick riches. (Yes, Bitcoin was as high as 67,000).
There are many things you can do to improve your financial situation. Getting involved with Crypto is not one of them.
Crypto - The Twilight Zone