I’m 21, and for my entire adult life have worked jobs where I get a W-2. Ive always paid taxes properly on those.
I “early adopted” bitcoin, and made around $~25k through the span of four years. If I had to estimate I’d say I transferred a total of $5000 from a bitcoin exchange to my bank in 2017, $5000 in 2018, and so far $8000 in 2019.
This is through a US bitcoin exchange, and my US bank. Both of them are reporting this to the IRS.
I never considered the transactions to be significant, and I was younger too so never really felt too inclined to learn how to pay taxes on it. I blindly assumed I didn’t really need to.
Now I’m 21 and have a decent sum of money saved (~20k) , and I kind of realized a good percentage of it has never been reported for me.
How do I attempt to rectify my negligence on this?
Submitted April 28, 2019 at 04:53AM by DavisFinance http://bit.ly/2IMTbko
