Do You Have to Report Crypto Under $600

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Many people are curious about whether they need to report their cryptocurrency transactions that are under $600. The answer is a bit complicated, so let’s break it down simply bitcoinmutualfund.net
In most cases, if you make a profit from selling or trading cryptocurrency, you need to report it on your taxes. This is true even if the amount is less than $600. However, there is a special rule called the “de minimis” rule, which allows small transactions under a certain amount not to be reported. The IRS, which is the agency that collects taxes in the United States, wants to know about all gains, even if they’re tiny. So, if you sell crypto for some money, you need to pay attention. But if you only bought some and didn’t make any money, then there’s nothing to report.