Overview
Mashable recently quoted Lisa Zarlenga in an article titled, "How to Report Crypto Transactions on Your Taxes." The article discusses the importance of properly reporting digital asset transactions to the IRS to avoid penalties.
Zarlenga explained that the IRS treats digital assets as property, like a car, for tax purposes. Thus, if a taxpayer buys, sells, or exchanges digital assets, they may be subject to tax. Zarlenga added that the IRS has been "cracking down" on taxpayers who don't disclose their taxable digital asset transactions as required by law.
