Turbotax for 2015 tax year2/23/2023 ![]() Crypto has grown enormously over the past few years, which means it’s likely to be a bigger part of the tax picture for more consumers. Turbotax for business 2015 how to#Īnd crypto taxes have proven to be a point of contention for lawmakers, as they go down the tricky path of figuring out how to get the government a piece of a burgeoning financial sector without burying it with regulation.Ĭrypto taxes saw an explosive growth, and there are no signs of slowing down. ![]() Kristin Smith, executive director of the Blockchain Association, told Protocol that it was also natural for Gen Z consumers to become increasingly interested in crypto because of their understanding of the internet.Millennials make up almost 40% of filers reporting crypto transactions, but the percentage of Gen Z crypto filers increased from 14% to 17%, signifying a continued shift in demographics as crypto’s popularity grows.Figures for 2021 aren’t in yet, but since it was a big crypto year, it’s safe to expect the number to increase even more in the most recent tax year.According to statistics from TurboTax, the number of people with crypto transactions nearly quadrupled from tax year 2019 to 2020, up 362%. ![]() “This is a way for them to control their assets in a way that they just aren't able to do with other types of investments,” she said. ![]() The infrastructure law passed last year takes aim at crypto tax reporting requirements, mandating annual reporting from digital asset brokers.With the Biden-backed Infrastructure Investment and Jobs Act and the proposed budget for the 2023 fiscal year, the White House is looking toward crypto to bridge a revenue gap. ![]()
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