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Updated 201516 Wis. Stats. Published and certified under s. 35.18. January 1, 2018.
1DIGITAL PROPERTYUpdated 1516 Wis. Stats.711.04CHAPTER 711
DIGITAL PROPERTY
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How to fill out digital property:
01
Start by identifying all your digital assets, such as online accounts, digital files, domains, and cryptocurrencies.
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Make a list of each digital asset along with its login credentials, account numbers, and any other relevant information.
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Store this information in a secure digital format, such as a password manager or encrypted file. It is important to keep this information updated regularly.
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Consider appointing a digital executor or trustee who will have access to your digital property in case of incapacitation or death.
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It is important to acknowledge that the need for digital property extends to almost anyone who engages in online activities or possesses any form of digital assets. Taking steps to manage and protect your digital property ensures that your online presence and assets are properly handled and preserved.
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What is digital property?
Digital property refers to any type of electronic asset or online account that holds value, such as cryptocurrencies, websites, social media accounts, and digital content.
Who is required to file digital property?
Individuals who own or have control over digital property are required to file it as part of their tax obligations.
How to fill out digital property?
Digital property can be filled out by listing all relevant details and values of the electronic assets or online accounts on the appropriate tax forms.
What is the purpose of digital property?
The purpose of reporting digital property is to ensure that these assets are accurately accounted for and taxed appropriately by the tax authorities.
What information must be reported on digital property?
Information such as the type of digital property, its value, acquisition date, and any income generated from it must be reported.
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