Exchanges reporting crypto gains to IRS becomes tax nightmare

Image from the source feed · Cointelegraph

The IRS can now see your crypto gains, but has no idea about the cost-basis.

OpenBook market desk: The IRS can now see your crypto gains, but has no idea about the cost-basis. That’s proving to be a big headache for some cryptocurrency investors.

Why this matters for multi-asset traders

The headline theme is "Exchanges reporting crypto gains to IRS becomes tax nightmare". We reframe the story for readers tracking equities, FX majors and crypto liquidity - without copying the original wording.

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Based on reporting from Cointelegraph. Read the original.