In 2017, the rising price of cryptocurrencies raised a general awareness among taxpayers as to associated income tax issues. Because US tax law treats cryptocurrency positions as a type of intangible personal property and not as “money,” even casual transactions into and out of cryptocurrencies can create tax reporting obligations that might not be intuitive.
If you’re invested in crypotcurrencies, be sure to make your Ayco advisor, coach or your personal income tax advisors or preparers aware of any transactions such as:
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This material was prepared by The Ayco Company, L.P. an affiliate of United Capital Financial Advisers, LLC d/b/a Goldman Sachs Personal Financial Management (“GS PFM”). This material was prepared for informational purposes only and should not be construed as personal financial planning, investment, tax, accounting, or legal advice. No investment decisions should be made using this data. GS PFM believes the material used for the article is accurate, but does not verify its accuracy independently and does not warrant or guarantee that is it accurate or complete. Information and opinions expressed in this article are as of the date of this material only and subject to change without notice. © 2020 The Ayco Company, L.P., a Goldman Sachs Company. All Rights Reserved.
United Capital Financial Advisers, LLC d/b/a Goldman Sachs Personal Financial Management (“GS PFM”) is a registered investment adviser and an affiliate of Goldman Sachs & Co. LLC and subsidiary of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management, and financial services organization.
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