Deciphering the 'Crypto Market'

[...]you convert your new pool of OHM back to ETH, which, as you likely guessed, is taxable as capital gain/loss. First and foremost, investors should consider investing in cryptocurrencytracking software. [...]please remember that the IRS's definition of cryptocurrency and digital assets could...

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Bibliographic Details
Published inBusinessWest Vol. 38; no. 21; pp. 70 - 82
Main Authors Cawley, Brendan, Coddington, Ian
Format Trade Publication Article
LanguageEnglish
Published Chicopee BusinessWest 21.02.2022
Subjects
Blockchain
Borrowing
Capital gains
Cost control
Digital currencies
Pandemics
Tax basis
Tax returns
Taxpayers
United States > US
Massachusetts
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Summary:[...]you convert your new pool of OHM back to ETH, which, as you likely guessed, is taxable as capital gain/loss. First and foremost, investors should consider investing in cryptocurrencytracking software. [...]please remember that the IRS's definition of cryptocurrency and digital assets could change dramatically in the coming years. [...]as of this past week, there has been a new court case that resulted in a decision that contradicts the IRS's previous position on staking rewards.
ISSN:1049-9822