Tax pros: Remind your clients that they must again answer a digital asset question and report all digital asset-related income when they file their 2023 federal income tax return, as they did for their 2022 federal tax returns. Everyone who files Forms 1040, 1040-SR, 1040-NR, 1041, 1065, 1120, 1120 and 1120S must check one box answering either “Yes” or “No” to the digital asset question. The question must be answered by all taxpayers, not just by those who engaged in a transaction involving digital assets in 2023. Read this news release for more information about digital assets, when to check yes or no on tax returns, and how to report digital asset income.
Taxpayers should continue to report all cryptocurrency, digital asset income–IRS
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