# kaal:claim:2998033-017

**Claim.** Cryptocurrency gains are massively underreported to the IRS: despite Bitcoin rising from under twenty dollars in 2013 to over twelve hundred dollars in 2017, the IRS received only around 900 Form 8949 filings indicating crypto gain or loss over four years.

**Type.** empirical  **Support.** evidenced

**Source quote.**

> While the value of Bitcoin in 2013 under $20 and its value appreciated to over $1200 in 2017, in the past four years, the IRS has only received around 900 Form 8949 that would indicate some gain or loss from cryptocurrencies.

**From.** Wulf A. Kaal, *Blockchain Innovation for Private Investment Funds* (2017), II.5. Regulatory Implications, page 18

**Cite as.** Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033

**Verify.** sha256 of source PDF `aafb1be3c25cd33da477d759df9ca2f856f0a8fe133d6396da2e75d0af573dbd` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202017%20-%20Blockchain%20Innovation%20for%20Private%20Investment%20Funds.pdf

**Failure mode.** crypto-tax-underreporting  (family: enforcement-gap)

**Topics.** disclosure, tokenomics, compliance

**Keywords.** irs, tax-underreporting, bitcoin, form-8949, enforcement

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/3002908-014

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