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See also: Want to donate to determine the federal income. Example 1: Last year, you this column.
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If you transfer virtual currency from a wallet, address, or account belonging to you, to another wallet, address, or account that also belongs to you, then the transfer is a non-taxable event, even if you receive an information return from an exchange or platform as a result of the transfer. Sales and Other Dispositions of Assets, Publication � for more information about capital assets and the character of gain or loss. Do I have income when a soft fork of cryptocurrency I own occurs? You can then upload your reports directly into TurboTax or TaxAct to include with the rest of your tax return or send them directly to your tax professional. Additional Information Chief Counsel Advice CCA PDF � Describes the tax consequences of receiving convertible virtual currency as payment for performing microtasks through a crowdsourcing platform.
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