US Bitcoin Investors Lost $1.7 Billion in 2018, 61% Unaware They Can Claim a Tax Deduction

According to a report from Credit Karma, US bitcoin investors who decided to exit the bitcoin market lost $1.7 Billion. Unrealized losses, belonging to those who didn’t sell, account for $5.7 billion. Credit Karma GM Jagjit Chawla believes many Americans don’t know they can qualify for a crypto tax reduction as a result of their … Continued The post US Bitcoin Investors Lost $1.7 Billion in 2018, 61% Unaware They Can Claim a Tax Deduction appeared first on CCN

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Now, Illinois is Looking at Tax Payments in Bitcoin

Illinois has joined a growing number of US states looking to pave the way to allow cryptocurrencies as payment for taxes. House Bill 5335, aka the Revenue Cryptocurrency Bill, is being sponsored by Rep. Michael Zalewski, a Democrat. It’s an amendment to the current Department of Revenue Law of the Civil Administrative Code of Illinois, The post Now, Illinois is Looking at Tax Payments in Bitcoin appeared first on CCN

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