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It depends what you did with them.
Whether you call Bitcoin and its peers like Litecoin and Ethereum virtual currencies, cryptocurrencies, e-currencies, or digital currencies, what matters to the IRS is how those currencies were held and used—as income or property.
Note: Many people have been unsure of how to treat Bitcoin and other digital currencies, so you may have recorded earnings incorrectly on prior returns. If you need to amend a previous return, follow these steps. (We also have a video that shows you how.)
Here’s a list of helpful topics:
How do I report earnings or losses from Bitcoin and other digital currencies?
How do I report Bitcoin or other cryptocurrency as a capital gain?
I’m mining Bitcoin, what does that mean for my taxes?
I didn’t receive a 1099-MISC or 1099-B for my digital currency earnings, do I have to report them?
It depends what you did with them.
Whether you call Bitcoin and its peers like Litecoin and Ethereum virtual currencies, cryptocurrencies, e-currencies, or digital currencies, what matters to the IRS is how those currencies were held and used—as income or property.
Note: Many people have been unsure of how to treat Bitcoin and other digital currencies, so you may have recorded earnings incorrectly on prior returns. If you need to amend a previous return, follow these steps. (We also have a video that shows you how.)
Here’s a list of helpful topics:
How do I report earnings or losses from Bitcoin and other digital currencies?
How do I report Bitcoin or other cryptocurrency as a capital gain?
I’m mining Bitcoin, what does that mean for my taxes?
I didn’t receive a 1099-MISC or 1099-B for my digital currency earnings, do I have to report them?
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