• Stimulus Check
  • SSDI
  • SNAP
  • SSI
  • Tax
  • CalFresh
  • Social Security
  • IRS
Futbolete
  • Finance
  • Social Security
  • Stimulus Check
  • SSDI
  • SNAP
  • SSI
  • Tax
  • CalFresh
  • Social Security
  • IRS
Futbolete
No Result
View All Result

IRS informs taxpayers of what they need to know about digital asset reporting

The 2025 tax season has arrived and millions of taxpayers are catching up on all the IRS matters like digital assets to get their tax refund

  • Oil Industry in this State Disburse $1,702 Stimulus Checks to 600,000 Residents
  • One more SSDI payment in September if you didn’t receive it yesterday
Francisco Candelera
31/01/2025 22:00
Finance
IRS and reporting digital assets in 2025

IRS and reporting digital assets in 2025

The IRS wants to help taxpayers learn about the digital asset reporting and tax requirements they may have. Do not forget to report any digital assets you may have received.

These digital assets could come in the form of an award, reward, or payment for services or property or disposed of any digital asset that was in the form of a capital asset through transfer, exchange, or sale.

IRS reminds taxpayers of what digital assets are

According to the Internal Revenue Service, a digital asset is a digital representation of value that is recorded on a distributed ledger, cryptographically secured, or any related technology.

Therefore, digital assets have to do with non-fungible tokens, stablecoins, cryptocurrency, and virtual currency. The IRS has provided a full list of examples of digital assets:

  • Trade or exchange of digital assets for another digital asset
  • Exchange of digital assets for property, goods, or services
  • Receipt of new digital assets due to a hard fork
  • Receipt of new digital assets due to staking and mining activities
  • Sale of digital assets
  • Receipt of digital assets as payment for services or goods

How to report digital assets transactions to the IRS

Do not forget to report any digital assets transactions to the IRS. The best way to do so will be to use Form 8949. This form is the Sales and other Dispositions of Capital Assets.

The Form 8949 will be useful to calculate a capital gain or loss to report it on Schedule D (Form 1040), Capital Gains and Losses. Sometimes the transaction was a gift.

If so, the IRS claims that you should file Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return. It is always advisable to hire a professional to help you deal with your digital assets if you do not know how to report them. For more information, visit the source: https://www.irs.gov/newsroom/what-taxpayers-need-to-know-about-digital-asset-reporting-and-tax-requirements

Tags: IRStax

Last News

Eligible Americans are inline to get a $1,702 stimulus checks from Alaska

Oil Industry in this State Disburse $1,702 Stimulus Checks to 600,000 Residents

SSDI: September average and maximum benefits, dates, and more

One more SSDI payment in September if you didn’t receive it yesterday

SNAP benefits recertification

SNAP Benefits Recertification: Here’s What to Do if September’s Your Due Date

SSI Payment Dates Revealed by the SSA

Three More SSI Payments Are Scheduled in the Upcoming Months: Full List Here

Recent Posts

  • Oil Industry in this State Disburse $1,702 Stimulus Checks to 600,000 Residents
  • One more SSDI payment in September if you didn’t receive it yesterday
  • SNAP Benefits Recertification: Here’s What to Do if September’s Your Due Date
  • Three More SSI Payments Are Scheduled in the Upcoming Months: Full List Here
  • How the STAR School Tax Exemption Program Works in New York

Trusted Information

Futbolete US, the news and media division of Futbolete, is a global provider of multimedia news content, reaching thousands of people around the world every day. It delivers business, financial, national, and international news directly to consumers

About Us

  • Code of ethics
  • Correction policy
  • Staff
  • Contact

Content Transparency

We are committed to delivering informative, accurate, and trustworthy content. Our articles are based on credible sources, including government websites, reputable news outlets, official press releases, and publicly available records. Each piece goes through a thorough editorial process and detailed fact-checking to ensure reliability and clarity.

  • Privacy and Cookies Policy
  • Legal Advise
  • Contact

© 2025 Futbolete News

  • Finance
  • Social Security