🔶Bitcoin Tax Anxiety Intensifies

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The IRS can now view your cryptocurrency sales records, and you may need to prove your purchase price. The 2025 trading report lacks cost basis, which could lead to self-reported gains being exaggerated.

Tax experts warn that ignoring the cost basis could result in over-inflated tax returns. The IRS's new 1099-DA form only shows sales profits, requiring individuals to calculate and report their cost basis themselves. (cryptoslate)