Taxpayers must report all digital-asset-related income on their federal income tax returns. Digital assets include non-fungible tokens, stablecoins, cryptocurrency and other forms of virtual currency. Such assets are taxed as property rather than currency. That means taxpayers must report taxable gains or losses every time they exchange a digital asset for goods, services, U.S. dollars or another digital asset. If you have digital holdings (or had them at any time during the tax year), you must answer “yes” to the question about digital assets on your tax return. Depending on the details, you may need to file an additional form. For more: https://bit.ly/3VS2297
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