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The New IRS Crypto Form Brings Hidden Challenges For Taxpayers

Form 1099-DA is meant to help the IRS identify tax dodgers. Its implementation next year could create complications. ....

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How Capital Gains Tax Works

If you sell your house and make a profit from the sale, that qualifies as a capital gain.
The IRS defines a capital asset as almost everything you own and use for personal or investment purposes. That s a lot of stuff. So technically, yes, you d have to tell the IRS about that Bee Gees record. But the most common taxable assets are securities, real estate and valuable collectibles.
Securities are any kind of financial instrument or investment contract that has value. Examples are stocks, bonds and options. Once again, it s important to understand that you ll only be taxed on securities that you ve sold in the past year. If your stocks go up during the year, but you hold on to them, you won t be charged a capital gains tax. Other types of investment income that fall into the capital gains category include annual dividends received from certain types of mutual funds and real estate investment trusts (REITs). ....

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What Is an IRS 1099 Tax Form? | GOBankingRates

What Is an IRS 1099 Tax Form? | GOBankingRates
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