The year is 2027.
January is coming to an end, and you recently received five different 1099s from the crypto brokers you used over the last year.
This post is part of CoinDesk’s Tax Week, presented by TaxBit. David Kemmerer is the CEO & co-founder of CoinLedger, a crypto tax software company.
Despite only trading $5,000 of cryptocurrencies, your 1099s are reporting $50,000 of realized taxable income! This number isn’t accurate. But, given that these same 1099s were sent to the IRS, Uncle Sam believes you earned that amount, and now he is demanding his $15,000 cut.
Naturally, you start
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