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| Glidewell jobs | That means crypto income and capital gains are taxable and crypto losses may be tax deductible. You can weigh your options, but if the exchange issued a Form to you, then it probably used a by-exchange approach. In late , the IRS issued guidance on acceptable cost-basis methods for calculating gains and losses on cryptocurrency. When you exchange your crypto for cash, you subtract the cost basis from the crypto's fair market value at the time of the transaction to get the capital gains or loss. Does Coinbase report to the IRS? |
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