The Misconception Buster
70% of U.S. crypto traders think taxes only apply to centralized exchange trades.
63% think crypto isn't taxed unless converted to dollars.
62% still believe crypto is anonymous and unenforceable.
All of these are dangerously wrong.
The reality: → DeFi, NFTs, staking, airdrops... all taxable → Crypto-to-crypto trades — taxable disposals → New 1099-DA forms — exchanges now report directly to the IRS
Your scattered wallets, confusing rules, and missed transactions? That's a recipe for an audit.
Summ fixes this. It pulls data from 3,500+ integrations, automatically categorizes transactions, filters spam tokens, and calculates your cost basis across everything.
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Official tax partner of Coinbase and MetaMask. Rated 4.6/5 on Trustpilot.
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Thanks to SUMM for sponsoring this post
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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