Taxation of Cryptocurrency & Virtual Currency

With the popularity of cryptocurrency continuing to rise, more and more people are learning how it works. So today, we're going to talk about taxation of cryptocurrency and how it could possibly affect you when you buy, sell or get paid using cryptocurrency.

0:00 Introduction
01:33 The taxation of cryptocurrencies
02:23 How are cryptocurrencies taxed?
04:58 How is cryptocurrency or the transactions of cryptocurrency reported to the IRS?
05:44 Do I owe tax, if I exchange one virtual currency for another?
06:43 Can I do a 1031 exchange on my virtual currency?
07:23 Can I donate my cryptocurrency to charity?
08:01 How to record a cryptocurrency or a virtual currency transaction on tax return
12:30 What if I am a miner and I mine cryptocurrency
12:46 What will happen if I don't report the virtual currency transactions on tax return

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DISCLAIMER: THIS VIDEO IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS TAX, FINANCIAL, OR LEGAL ADVICE. EVERY PERSON’S SITUATION IS DIFFERENT AND YOU SHOULD CONSULT WITH YOUR OWN FINANCIAL AND TAX ADVISOR FOR ADVICE SPECIFIC TO YOUR SITUATION. COMMENTS ARE NOT REVIEWED

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ACap will not respond to comments seeking tax or financial advice. Please consult a CPA or CFP who is familiar with your individual circumstances.