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Cryptocurrency went from being largely unregulated and untaxed to being one of the most closely watched taxable activities practically overnight. A little checkbox showed up near the top of 2020’s Form 1040, asking a yes-or-no question about it. You may have overlooked it a year ago but have dipped your toe in the cryptocurrency pool since. Maybe you personally invested in it or exchanged (gave or received) it for business purposes.

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