Traded cryptocurrency in 2021? Here’s how to approach taxes

By SABRINA PARYS of NerdWallet

Alternative finance has captured the attention of investors across the U.S. As the 2022 tax season approaches, traders who are new to cryptocurrency taxation will have to contend with the IRS’ rules for reporting on taxable events. This could be a difficult task for those who trade across a variety of platforms or who don’t understand their tax liability and the rates at which gains are taxed. There are many strategies that can help investors better prepare, including getting their records in order, hiring a professional and investing in tracking software.