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Guess what? It's TAX SEASON! Hooray... said no one ever!

But fortunately for us, the IRS has published some new guidance that will hopefully clarify a common question you might've asked to your financial planner and CPA: "Do I have to pay taxes on crypto if I only bought crypto but never sold/transferred during the past year?:

I am NOT a CPA, so this is not financial advice or guidance. As always, seek professional, qualified council from your tax professional for actual guidance on this and other crypto or tax related questions.

IRS 1040 for 2020: https://www.irs.gov/pub/irs-pdf/f1040...
IRS Virtual Currency Transactions FAQ: https://www.irs.gov/individuals/inter...

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0:00 Introduction
1:54 Do I have to pay taxes when I buy crypto?
2:16 Changes to IRS 1040 on crypto
4:06 Will the government try to shut down crypto?
6:56 IRS Updates to the Crypto FAQ
10:26 What this means for HODLers