The IRS Is Stepping Up Enforcement of Tax Payments From Crypto Sales
WSJ Your Money Briefing
The Wall Street Journal
4.1 • 1.7K Ratings
🗓️ 4 December 2024
⏱️ 9 minutes
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| 0:00.0 | Z-scaler extended its zero-trust architecture with powerful AI engines trained by 500 trillion daily signals to prevent ransomware and AI attacks that target business. |
| 0:11.8 | Z-scaler, zero-trust plus AI. Learn more at z-scaler.com slash zero-trust AI. |
| 0:26.3 | Here's your money briefing for Wednesday, December 4th. I'm J.R. Waylon for the Wall Street Journal. |
| 0:36.9 | The price of Bitcoin has risen about 37% since Election Day, and many investors have cashed in on the run-up. The IRS has a clear message. |
| 0:40.3 | Be ready to pay up come tax season. The IRS enforcement is real. Since 2019, the IRS has |
| 0:46.9 | required all taxpayers to check a box on their tax return to say yes or no whether they've received |
| 0:52.4 | or disposed of a digital asset. |
| 0:54.9 | They're stepping up oversight and tax audits in criminal cases are happening more often. |
| 1:00.7 | We'll talk to Wall Street Journal of personal finance reporter Ashley Ebling. |
| 1:04.0 | After the break. exchanges, the Goldman Sachs podcast featuring exchanges on rates, inflation, and U.S. recession risk. |
| 1:26.5 | Exchanges on the market impact of AI. |
| 1:29.7 | For the sharpest analysis on forces driving the markets and the economy, |
| 1:34.1 | count on exchanges between the leading minds at Goldman Sachs. |
| 1:38.1 | New episodes every week. |
| 1:40.3 | Listen now. |
| 1:56.6 | The IRS is stepping up enforcement of tax payments due on profits from cryptocurrency sales. |
| 2:00.4 | Wall Street Journal, personal finance reporter Ashlea Ebling joins me. |
| 2:04.1 | Ashleya, the IRS considers crypto as property. |
| 2:05.7 | What does that mean for investors? |
| 2:13.4 | Well, that basically means that crypto rules work a lot like stock rules, the rules for gains and losses. |
| 2:19.0 | If you sell crypto for more than you bought it for, you'll owe tax on the gain. If you sell it at a loss, |
| 2:25.0 | you can use those losses to offset current gains or future gains. And of course, now with Bitcoin nearing 100,000, most people are in the gain territory. What do Bitcoin sellers need to know |
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