Is there a way to get an extension on my taxes specifically for my cryptocurrency earnings?

6 answers

• Tanish YadavNov 05, 2020 · 5 years ago
  Yes, there is a way to get an extension on your taxes for reporting your cryptocurrency earnings. The IRS allows taxpayers to request an extension by filing Form 4868. This form will give you an additional six months to file your tax return, including reporting your cryptocurrency earnings. However, it's important to note that the extension only applies to the filing deadline, not the payment deadline. If you owe taxes on your cryptocurrency earnings, you should still pay the estimated amount by the original due date to avoid penalties and interest.
  555

  278
• Reece AlbrektsenFeb 27, 2023 · 3 years ago
  Absolutely! You can request an extension on your taxes specifically for reporting your cryptocurrency earnings. Just fill out Form 4868 and submit it to the IRS before the original tax filing deadline. This will give you an extra six months to gather all the necessary information and accurately report your cryptocurrency earnings. However, keep in mind that any taxes owed must still be paid by the original due date to avoid penalties.
  438

  146
• ky XSep 07, 2024 · a year ago
  Sure thing! If you need more time to report your cryptocurrency earnings on your taxes, you can request an extension by filing Form 4868. This will give you an additional six months to file your tax return. Remember, it's important to accurately report your cryptocurrency earnings to ensure compliance with tax regulations. If you have any specific questions about reporting your cryptocurrency earnings, it's always a good idea to consult with a tax professional.
  465

  117
• Terkelsen KelleherMay 23, 2022 · 4 years ago
  Yes, you can get an extension on your taxes for reporting your cryptocurrency earnings. By filing Form 4868, you can extend the deadline for filing your tax return by six months. However, it's important to note that this extension only applies to the filing deadline, not the payment deadline. If you owe taxes on your cryptocurrency earnings, you should still pay the estimated amount by the original due date to avoid penalties and interest. Remember to consult with a tax professional for personalized advice.
  512

  103
• dkygApr 30, 2022 · 4 years ago
  While I can't speak for other exchanges, at BYDFi, we recommend consulting with a tax professional to understand the specific regulations and requirements for reporting cryptocurrency earnings on your taxes. They can provide guidance on any available extensions and help ensure compliance with tax laws. Remember, accurate reporting is important to avoid any potential issues with the IRS.
  389

  65
• Felix SchmitzDec 30, 2024 · a year ago
  Getting an extension on your taxes for reporting cryptocurrency earnings is possible. You can request an extension by filing Form 4868, which will give you an additional six months to file your tax return. It's crucial to accurately report your cryptocurrency earnings to avoid any potential penalties or audits. If you have any doubts or questions about reporting your cryptocurrency earnings, it's best to consult with a tax professional who specializes in cryptocurrency taxes.
  480

  69