Current Federal Tax Developments for the week of October 7, 2019: Virtual Currency and Taxes
IRS expands IP PIN program to 10 more states
Question on virtual currency transactions will be on Schedule 1, Form 1040 and 1040SR, along with release of more draft instructions
Hard forks of virtual currencies are taxable events per IRS and the rule appears to apply retroactively
Additional set of FAQs added for taxation of virtual currencies to IRS website
Articles on this week’s update are available in the following PDF.