IRS introduces broader ‘Digital Assets’ category ahead of 2022 tax year
An early draft of the 2022 IRS tax form sees cryptocurrencies, stablecoins and nonfungible tokens grouped under a new 'Digital Asset' category. American taxpayers will find a broader, more defined category encompassing cryptocurrencies and nonfungible tokens (NFTs) in their 2022 IRS tax forms. The draft bill released by the Internal Revenue Service features a well-defined Digital Assets section that outlines if and how taxpayers will account for the use of cryptocurrencies, stablecoins and NFTs.Page 16 of the draft defines Digital Assets as any digital representations of the value recorded....
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