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This is done by subtracting the cost of acquiring the asset the 'cost basis' from on a decentralized platform known.

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A taxpayer would have to report transactions related to cryptocurrency as business income if held as stock in trade, or capital gains if held as. US taxpayers reporting crypto on their taxes should claim all crypto capital gains and losses using Form and Form Schedule D. Ordinary. The IRS requires US taxpayers to report all cryptocurrency transactions, including sales for losses. Failure to properly report can lead to.