U.S. Supreme Court is reviewing Tax Code on realized vs received

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U.S. Supreme Court is reviewing Tax Code on realized vs received

U.S. Supreme Court is reviewing Tax Code on realized vs received

Just saw that the US Supreme Court is taking on Tax Code that Aries from a Washington Couple over "Must income be “realized,” or received, before it can be taxed?" I was curious what this communities take on this might be involving cryptocurrency and the future of it. There's a recent post from a user who claims they owe 50k from alt coin trading during the 2021 Bull and was unaware that every trade was a taxable event. Is that due to "unrealized gains?" I'm still trying to learn what I can in this field and I also appreciate any advice or educating on the topic as well. Hopefully whatever the outcome it's a positive note for everyone involved in cryptocurrency.

submitted by /u/HairyChest69
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