Crypto Taxes 2022: Here’s What You Need to Know According to CoinTracking
PRESS RELEASE.
New regulations in the US are a hot discussion topic among crypto investors, with a bill coming to fruition severely increasing the reporting needs for crypto brokers and traders. The Infrastructure Investment and Jobs Act of 2021 of Nov. 15, 2021, requires cryptocurrency exchanges to report crypto transactions on form 1099 starting in 2023. This change requires crypto brokers to issue a tax report with all the individual trades that users conducted, including information such as sales proceeds and costs basis for each trade.
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