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Daily Archives: February 24, 2020

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Cryptocurrency Tax Guide (2020) – Filing and Paying Taxes on Cryptos

Guides, NewsBy adminFebruary 24, 20202 Comments

Experts weigh in on updated IRS notices and changes for 2020 In the approximately dozen years of cryptocurrency trading, the IRS has been working through how to classify it and obtain its pound of flesh. The IRS has had to juggle its duty to provide clarity with the need to stay light on its feet…

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Important Disclaimer:
Pricing data (and resulting portfolio valuation and performance data) displayed on the Site are provided by or based on information provided by one or more exchanges, may be delayed or otherwise not up to date, may be incorrect, and there is no guarantee that any amount of Digital Currency can be purchased or liquidated for the price indicated. No price is guaranteed until the transaction is settled.

All pricing and other information (including portfolio valuation and performance data) on the Site is provided on an "as is" basis for your personal information only, no representations are made as to the accuracy of such information, and you agree not to rely upon such information for any purpose. BitIRA (a) expressly disclaims the accuracy, adequacy, or completeness of any pricing or valuation or performance data displayed and (b) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. BitIRA shall not be liable for any damages relating to your use of the information provided on the Site.

All transactions must be verbally confirmed, are subject to BitIRA's Customer Transaction Agreement, and additional documentation confirming the transaction will need to be executed before a transaction will be processed.

Important Tax Considerations:
BitIRA is not a legal or tax professional and does not provide legal or tax advice. It is BitIRA's understanding that Digital Currencies may be held in an individual retirement account, but if you have any questions regarding the legal rules applicable to individual retirement accounts, including which assets may be held in such an account, you should contact a legal or tax advisor. BitIRA makes no representation or warranty that purchasing Digital Currency for placement in an individual retirement account complies with government regulations or statutes or that current rules and statutes (or the interpretation of existing rules and statutes) will not change.

Important Investment Considerations:
In BitIRA's opinion, Digital Currencies are a highly speculative investment, and anyone considering purchasing Digital Currency should have the financial flexibility and resources, and the risk tolerance, to lose the entire investment. BitIRA does not offer any opinion as to which Digital Currency(ies) to purchase, in what amount, and for how long a customer should hold such Digital Currency. Nor does BitIRA offer any opinion as to what percentage, if any, of a customer's portfolio should be devoted to alternative and highly speculative investments like Digital Currency. Historical performance is no guarantee of future results. BitIRA does not guarantee or represent that anyone purchasing Digital Currency will make a profit.

BitIRA is not an investment specialist, tax specialist, financial planner (certified or otherwise), or retirement advisor, and BitIRA does not provide investment advice, tax advice, financial planning services, or retirement planning or retirement-specific advice. BitIRA facilitates the purchase of Digital Currency, nothing more, and charges a fee for the service it provides (based on the transaction value). No fiduciary relationship, broker dealer relationship, principal agent relationship or other special relationship exists between BitIRA and its customers.

Customers purchasing or liquidating Digital Currency make all investment decisions.

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