IRS Says Fewer Than 100 People Have Reported Bitcoin Holdings So Far

investopedia.com

11 points·aggie··5 comments

Title is extremely misleading. It was 100 people out of 250k in one particular group (.04%), not 100 people total as implied in the title. Using the same logic you could say "Only one person has reported bitcoin to the IRS." (out of 2500 somewhere in the fine print.)

100 out of 250k people doesn’t surprise me. Despite all the media, “ordinary people” aren’t doing crypto currency trading much. Many also probably are on a hold pattern, and don’t have anything to report yet.

Not to mention that lots of people wait until the last minute to file their taxes, and the deadline this year isn't until Tuesday, 4/17. Some people, especially those who are unsure about how to report Bitcoin transactions, might take advantage of the automatic 6-month filing extension. So it's way too early to report meaningful statistics about what percentage of people have reported Bitcoin transactions.

That's a fairly misleading headline.

>Of the most recent 250,000 filers on the Credit Karma Tax platform, fewer than 100 people reported capital gains on their cryptocurrency investments, data released Friday showed.

Isn't this clickbait? What it doesn't say in the headline is a big missing fact: 100 of such-and-such users of some platform.

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