Title: IRS: Frozen Crypto Rewards Taxable Despite Account Lockdowns
Post by: Bitcoin on Nov 02, 2024, 05:24 am
Post by: Bitcoin on Nov 02, 2024, 05:24 am
IRS: Frozen Crypto Rewards Taxable Despite Account Lockdowns
Crypto rewards received before an account freeze are taxable in the year they're received, even if holders can't access their funds later, the IRS says. IRS Clarifies Tax Rules for Digital Assets in Locked Accounts The Internal Revenue Service (IRS) issued a memorandum in October, addressing the tax obligations of digital asset rewards in accounts […]
Source: IRS: Frozen Crypto Rewards Taxable Despite Account Lockdowns (https://news.bitcoin.com/irs-frozen-crypto-rewards-taxable-despite-account-lockdowns/)
Crypto rewards received before an account freeze are taxable in the year they're received, even if holders can't access their funds later, the IRS says. IRS Clarifies Tax Rules for Digital Assets in Locked Accounts The Internal Revenue Service (IRS) issued a memorandum in October, addressing the tax obligations of digital asset rewards in accounts […]Source: IRS: Frozen Crypto Rewards Taxable Despite Account Lockdowns (https://news.bitcoin.com/irs-frozen-crypto-rewards-taxable-despite-account-lockdowns/)