Are you a cryptocurrency owner? Fill in your US tax forms

Are you a cryptocurrency owner? Fill in your US tax forms

Is it necessary to pay taxes on cryptocurrency? Crypto is classified as a sort of property rather than a money by the IRS in US. You must pay taxes on the current value of Bitcoin if you get it as payment. You’ll be taxed on the difference between your buy price and the revenues of the sale if you sell a cryptocurrency for a profit.