Real Estate Investors Association of Greater Cincinnati

"Don't judge each day by the harvest you reap but by the seeds that you plant." -Robert Louis Stevenson

In recent years, some cryptocurrency traders have been caught off guard by the surprise tax bill generated from their trading activities. Many others have simply failed to report these transactions to the IRS at all, unaware that they even need to. Those folks in particular are in for a rude awakening someday, as the IRS expands its enforcement against crypto traders.

So, what are your responsibilities as a crypto trader? What if you’re not actively trading these assets, but simply holding them? What records should you be keeping?

Crypto is Taxed as Property
Let’s start with the most important thing you need to understand about crypto, and its relationship with the IRS: The federal government taxes crypto like property.

In other words, the IRS looks at crypto the same way it looks at houses, cars, paintings, even baseball cards. While
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The City of Cincinnati now requires that all rental housing providers who "own and control more than 25 units" offer alternatives to a full rental deposit, including so-called "deposit insurance" or the option of paying the deposit over several months.

This ordinance also re-defines retaliatory eviction as any eviction that occurs within 6 months of a tenant reporting code violations or other conditions to applicable authorities, unless the housing provider can prove "by a preponderance of evidence" that the eviction is due to the tenant laying waste to or illegally using the property, or the owner wants to move into the house or remove it from the rental market permanently, or the property must be vacated to make repairs. 

It contains a disclosure that must be given to residents prior to move in, as well.

Click to read final version of new law: Renters Choice  

Recorded council session click HERE