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How to Be Smart About U.S. Taxes on Bitcoin: Opinion

March 26, 2021, 10:30 AM

Are you among the estimated 15% of Americans who own digital currency? If you sold or traded it last year, you’re probably sitting on big gains, and those will come with hefty tax bills.

There are smart ways to manage those obligations, and not-so-smart ones, too.

Lots of crypto investors might be tempted to hide their heads in the tax-planning sand, and it’s easy to see why. The tax issues are complex. Brokerage firms don’t do the hard work of tracking their holdings, as they typically do for owners of stocks and bonds. Guidance from the Internal Revenue ...

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