Have you seen the 2021 Personal income tax return format? I have. The IRS is gathering data. I think they now realize the power of information.
The very first page of the Form 1040 which is your personal income tax return, has a question on it, right under your name/address/social security number and that question is :
: Did you buy or sell in cryptocurrency in 2021? Interesting! This does not generate any taxes, it is just a question but it sets the IRS up nicely for when more stringent crypto rules are enacted.
Look out for other interesting questions on your income tax return this year.
AND while I have your attention, I am SO THRILLED to announce the launch of our That’s Deductible 8 Week Program. Go to www.wendybarlin.com for the details