Here's what to know about cryptocurrency and your taxes

(NewsNation) — Cryptocurrency trading might feel like the Wild West for much of the year, but come tax season, several IRS rules still apply.The IRS treats cryptocurrencies like bitcoin as property, similar to stocks, bonds or gold. That means if you sold crypto during the year, you'll need to report it on your tax return as a capital gain or loss.Depending on how long you held the crypto before selling, you'll owe short-term or long-term capital gains tax on any profit. If you'r