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Platforms like Kalshi, Polymarket, and Robinhood now process billions of dollars in contracts each month, covering everything from interest rate decisions to election outcomes to tomorrow's weather in Phoenix. With that kind of volume comes an unavoidable question: what do you owe the IRS on your winnings?
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Without accurate cost basis information, your crypto tax calculations will be incorrect, which could cost you thousands in overpayment.
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The Ethereum Foundation is setting its sights on a new frontier: positioning Ethereum as the foundational trust layer for artificial intelligence. Davide Crapis, AI lead at the Ethereum Foundation, has outlined a vision where Ethereum serves as the backbone for verifying, coordinating, and anchoring AI-driven systems and interactions.
A step-by-step guide to transferring your crypto Form 1099-DA data to IRS Form 8949, including how to handle missing cost basis, choose the right checkboxes, and avoid common mistakes.
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Swapping one crypto for another is a taxable event, and you will need to work out the USD value of your capital gain or loss to report on your taxes.