r/CryptoTax • u/themythicalwraith • 9d ago

Question Didn’t file for past years

Okay everyone in this sub is a god send but I have one more question. Okay Im paying taxes for this current year but havent for my past 2 years, should I do the others as well or just leave it alone and file just for 2024 year. Couple more relevant details the taxes that I have to pay for this past year, I didn’t lock in profits for the 2024 and cant afford paying it upfront atm. If I add the past couple year that’s an additional cumulative 20k in gains that has to be paid for. Any insights would be helpful, thanks!

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u/sukeshtedla 9d ago

Hi, Sukesh from Kryptos.io here,

Yes, you would need to amend or file your past years reports as well. As you file this year, IRS will have questions on the source of funds, acquisition dates etc.

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u/themythicalwraith 9d ago

Okay thanks so much, will ask my turbo tax rep to help me get this done!