US Internal Revenue Service: Taxpayers must report cryptocurrencies through airdrops or hard forks.

The United States Internal Revenue Service (IRS) recently announced the contents of its Form 2020 1040 “United States Personal Income Tax Return”. This information should be read in the crypto-related "yes" question if taxpayers receive free cryptocurrency, including airdrops or hard forks. Earlier on October 23, the IRS released data indicating that if taxpayers only hold cryptocurrency for 2020 or only trade cryptocurrency on their wallet, they don't need to complete this form. Check the "Yes" option for encryption. - Related issues. This document is intended to answer the question of whether the applicant has switched to crypto assets within a year. “Are you selling, receiving, sending, sending or making any other financial profit with virtual currency throughout 2020? These questions were previously included in the 2019 form, but are part of the information involved and do not need to be completed by every candidate.