US cryptocurrency tax filing date now July 15th, extension to Oct 15 still an option


The U.S. federal and state income tax deadline is Wednesday July 15, 2020. Of course, you don’t have to wait that long. We’ve covered the general tax overview and also some specifics in these tax articles:

Cryptocurrency Taxes 2017

Reporting crypto to US dollar trades

Info on Schedule D

Reporting crypto to crypto trades

And finally, this 2018 update clarifying like-kind exchanges going forward. There remains some controversy surrounding like-kind exchange options for 2017 and earlier. Be sure to check out the Coindesk tax article series for more general coverage of these topics.

File a request for extension using form 4868

If you still haven’t gotten around to poring over those exchange reports and generating completed form(s) 8949 by July, don’t panic. You can still file for an extension online, via mailed paper form 4868 or by using options provided within your chosen tax software.

All taxes owed at time of filing will not incur any penalties or interest this year due to the coronavirus situation and the tax date adjustment

And finally, we have a tax discussion thread in our forums. Please feel free to register and post any questions, tips, suggestions or complaints about cryptocurrency taxes there. TCF will not share your information with other companies.

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tac

Reddit https://www.reddit.com/user/TheCCForums/ TC first began coding on TRS-80’s in high school in 1979. He has been around since the early days where you had to create a function if you wanted your computer to do something. From there to Atari, Commodore, Apple, and PC, he’s written code for them all. Trained in medicine rather than tech, he kept up with the tech world by writing the occasional utility to help with medical training. He also got involved in tech investing early, and managed to avoid the boom/bust cycle in the 90’s because he recognized that many companies didn’t serve a product that consumers needed. Now he applies this background, training and investing approach to cryptocurrency. He shares his thoughts here while providing educational resources for beginner to intermediate cryptocurrency investors and users.

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