How do I report cryptocurrencies on my tax returns?
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Robert James
20+ years of experience in IRS matters .What steps can we take immediately to address the IRS Notice of Deficiency for my son's cryptocurrency trading on Robinhood, where they've added every transaction as income and he's facing a substantial tax bill and penalty that he can't afford as a college student, with our court petition deadline approaching soon?
File the petition with Tax Court! That is the most important thing to do before the deadline. It is extremely ...
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Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on September 19,2023I am working for a company abroad online from india. I am getting paid in crypto. Is this legal if i convert to cash? If so how i file tax for my salary?
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Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on November 25,2021If my salary is paid in crypto, how can I report this tax filing in India since the price of crypto fluctuates?
You can consider the value of crypto on the date of receipt as salary. And if there is any ...
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Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on October 18,2021If my salary is paid in crypto, how can I report this tax filing in India since the price of crypto fluctuates?
You can consider the value of crypto on the date of receipt.
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Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on November 25,2021How do I report cryptocurrencies on my tax returns?
If cryptocurrencies are held as an investment, you have to show it under the head of Capital Gains. Gains ...
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Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on February 28,2023What kind of taxes are cryptocurrencies subjected to in India?
Income Tax
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Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on November 25,2021Is it necessary that I file taxes for my cryptocurrency?
Yes, you have to file an Income Tax Return if your total income from all sources is more than ...
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Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on February 28,2023Is it necessary that I file taxes for my cryptocurrency?
Yes
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Subin VR
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No tax problems at all. If there is gain from your investments; you have to pay tax. Thats all.
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Subin VR
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It depends on the objectives of the company. If investment/trading is one of the objective, then you can do ...
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