The IRS just released a new Schedule
[1] for the 2019 tax season, spelling out the details on above-the-line deductions.
Taxpayers will notice the following statement:
At any time during 2019, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?
Which is an unclear question, meaning that you need to keep a record of all sales, purchases, or even postings to other wallets.
“For tax purposes, the virtual currency is treated as property, similar to a security,” she said. “Therefore, taxpayers should maintain cost records similar to the way records are kept for stocks and securities, although there will be no monthly statements.”
What is your opinion? I think you need some software such as Lumina and Bitcoin.Tax.
[1]
Read more and source --->
https://www.cnbc.com/2019/12/06/the-irs-has-a-new-tax-form-and-wants-to-know-about-your-cryptocurrency.html