
CRYPTOCURRENCY TAX BASICS
A RELATIVELY NEW FEATURE ON THE FINANCIAL LANDSCAPE Crypto currencies are a relatively new feature on the financial landscape. Because of their novelty, there has been a lot of speculation and, frankly, wishful thinking regarding how the IRS would treat these currency transactions. Many provisions, e.g., “wash sales” and tax lot treatment, have not yet been finalized. But there are some things, as laid out in IRS Notice 2014-21, that