Hardly anyone is paying taxes on their bitcoin gains as filing deadline nears

ArticleCurrencyApril 16, 2018 - 4:59:38 AM

Of the most recent 250,000 filers on the Credit Karma Tax platform, fewer than 100 people reported capital gains on their cryptocurrency investments, data released Friday showed.

With just a few days to the U.S. tax filing deadline, still only a tiny fraction of Americans have reported their cryptocurrency holdings, according to Credit Karma.

Of the most recent 250,000 filers on the Credit Karma Tax platform, fewer than 100 people reported capital gains on their cryptocurrency investments, data released Friday showed.

"There's a good chance that the perceived complexities of reporting cryptocurrency gains are pushing filers to wait until the very last minute," Jagjit Chawla, general manager of Credit Karma Tax, said in an emailed statement. "I want to reassure people that it's not as complex as it may seem at first glance and that Credit Karma Tax has a number of resources about how to approach

Source:/a> cnbc.com

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