Hey kids! Did you know more and more people are using cryptocurrency, like Bitcoin? It's like digital money! The government (IRS) is making new rules about how people report their cryptocurrency money to pay taxes. This is because crypto is getting super popular!
- The IRS is tracking crypto better now.
- They want people to report their crypto profits and losses more accurately.
- They're using a new form (1099-DA) to make it easier.
- It's like reporting money made from stocks or other investments.
| Fact | Number |
|---|---|
| Percentage of American adults owning crypto | 28% (up from 15% in 2021) |
| Bitcoin's highest price | Over $109,000 |
It's important to know that investing in cryptocurrency has risks, just like any investment. It’s best to learn about it before investing.
