# kaal:claim:3002908-014

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

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

**Holds when.**

- US federal tax reporting, four year window ending 2017

**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, Marco Dell'Erba, *Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and* (2017), III.2. United States, page 18

**Cite as.** Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908

**Verify.** sha256 of source PDF `06a7b61e75f905ee07e422e875d83a65c5033a248a6e05a213523b034e5db534` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Dell%27Erba%20-%202017%20-%20Blockchain%20Innovation%20in%20Private%20Investment%20Funds%20-%20A%20Comparative%20Analysis%20of%20the%20United%20States%20and.pdf

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

**Topics.** compliance, disclosure

**Keywords.** irs, tax-compliance, underreporting, cryptocurrency

**Related claims.**

- restates: https://wulfkaal.github.io/claims/2998033-017

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.