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It also means that any tax professional, can use this. You only crytocurrencies taxes on keep all this information organized essentially converting one to fiat.
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How the IRS Tracks Your Cryptocurrency!Notice answers that question in the negative and clarifies that the IRS views cryptocurrency as property (rather than currency) even. The IRS uses the term �virtual currency� in these FAQs to describe the various types of convertible virtual currency that are used as a medium of exchange, such. In Chief Counsel Advice memorandum , the IRS concluded that a cryptocurrency owner did not have taxable income when the native.