Cryptocurrency Tax: Understanding Crypto Taxes

Did you invest in cryptocurrencies last year? If so, you likely have reportable income transactions that need to be on your income tax return. In this informative video, Mark Steber (Jackson Hewitt’s Chief Tax Information Officer) shares everything you need to know about how cryptocurrencies impact tax returns, crypto tax rates, and all things crypto taxes.

Here's what we cover in this video:
• 00:36 Does crypto count as income? Should cryptocurrencies be reported on a tax return?
• 2:09 Crypto tax rates
• 3:01 When are there reportable and potentially taxable events in crypto, and how much tax do you pay on crypto?
• 5:11 Crypto losses as a tax write-off
• 5:35 Where crypto transactions are reported on a tax return
• 6:54 Record keeping of digital assets

Don’t get overwhelmed. Watch this video and you’ll gain the knowledge and strategies you need to help before you file your tax return this year.

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