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U.S. Supreme Court is reviewing Tax Code on realized vs received

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by COINS NEWS 40 Views

U.S. Supreme Court is reviewing Tax Code on realized vs received

Just saw that the US Supreme Court is taking on Tax Code that Aries from a Washington Couple over "Must income be “realized,” or received, before it can be taxed?" I was curious what this communities take on this might be involving cryptocurrency and the future of it. There's a recent post from a user who claims they owe 50k from alt coin trading during the 2021 Bull and was unaware that every trade was a taxable event. Is that due to "unrealized gains?" I'm still trying to learn what I can in this field and I also appreciate any advice or educating on the topic as well. Hopefully whatever the outcome it's a positive note for everyone involved in cryptocurrency.

submitted by /u/HairyChest69
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