Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue Service (IRS) that, if adopted, would prevent taxpayers from weighing crypto losses against other capital gains. The paper, dubbed simply “Crypto Losses,” seeks to define the various forms of loss that can be accrued by businesses and individuals invested in cryptocurrency and proposes a “new tax framework.” Current IRS guidelines concerning cryptocurrency are somewhat nebulous. For…
Tax law researchers propose IRS framework for deducting crypto losses
