CCN received a “consumer warning” this morning from a crypto tax preparation firm. The warning outlines two aspects of crypto tax that the firm believes have been done wrong by other outfits – namely Bitcoin exchange Coinbase and Intuit, the creator of TurboTax. As regards Coinbase, the firm writes: “The online tax guidance provided by Coinbase implies that airdrops are taxable as ordinary income—which is reported on Line 21 of Schedule 1 of Form 1040—rather than as capital gains that only become taxable when the positions are sold.” Bitcoin Exchange Coinbase Clarifies Crypto Tax Guide We reached out to Coinbase,
The post Crypto Tax Firm Makes Half-Baked Bid to Drag Coinbase Through the Mud appeared first on CCN
* First published on ccn.com
