Cryptocurrency Taxes


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India Crypto Tax Guide 2022

Indian crypto investors will have to start paying tax now that the government has made the rules clear through the Indian Finance Bill 2022. This piece is part of CoinDesk's Tax Week.

Indian flag (Getty Images)

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‘We Have Entered a Period of Pain,’ Says WazirX CEO of India’s New Tax Laws

Nischal Shetty, one of the most prominent figures in India’s crypto industry, talks candidly and at length about what’s at stake with the country’s new tax provisions.

WazirX CEO Nischal Shetty (WazirX)

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UK Tax Regulator Updates Guidance on Staking and DeFi Lending

How proceeds from lending or staking are taxed depends on the nature of the returns, which could be hard to determine, UK's tax agency says.

HM Revenue and Customs Building on Whitehall, Westminster (John Lamb/Getty Images)

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South Korea’s 20% Tax on Crypto Gains Will Take Effect in 2022: Report

NFTs appear to be exempt from the crypto taxes for now because South Korea does not classify them as “virtual assets.”

(Shutterstock)

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IRS Tweaks Crypto Question Language on 2021 1040 Draft Form

The revised question asking taxpayers about crypto assets is much simpler and clearer.

The IRS has released a draft version of the 2021 1040 form.

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UK Tax Authority Updates Treatment of Crypto Assets to Incorporate Staking

This marks the first time that HMRC has released guidance specifically describing how staking is treated for taxation purposes. It has been assumed previously that staking comes under the umbrella of mining, thus the same guidance has applied.

HMRC_Self_Assessment_tax_return

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Coinbase Ditches US Customer Tax Form That Set Off False Alarms at IRS

Instead of the troublesome 1099-K form, Coinbase will send the 1099-MISC to users of its interest-bearing products. Regular traders may not receive any forms at all.

IRSMosh2

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IRS Violated 'Taxpayer Bill of Rights' With 2019 Crypto Letters: Watchdog

Nearly a year after the IRS sent intimidating letters to crypto holders, the agency’s watchdog says the campaign violated its Taxpayer Bill of Rights.

The IRS's Taxpayer Advocate Service says a group of letters the agency sent to taxpayers last year may have violated its own code. (Danny Nelson/CoinDesk)

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Hodlers Can Donate Crypto to Charity to Minimize Tax Payments

Donating crypto means it won’t be taxed, say The Giving Block and TAXbit, which published a guide to facilitate such donations.

Individuals who donate their cryptocurrencies instead of exchanging for fiat or another crypto may not owe any taxes on those transactions. (SJ Baren/Unsplash)

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Even the IRS Admits Some Crypto Tax Regulations Are 'Not Ideal'

Have questions about filing your crypto taxes? CoinDesk dives into what we know (and what we don’t) about how the IRS is approaching the asset class.

The IRS plans to publish additional guidance around cryptocurrencies, with the next document addressing information reporting. (Shutterstock, modified by CoinDesk using PhotoMosh)

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