Credit Karma Tax says that fewer than 100 of the 250,000 federal tax returns prepared and submitted so far this year by its customers include reports of the benefits of cryptocurrency and losses. Part of the reason for the lack of filing - especially for a year that sees investor interest in the surge in cryptocurrencies - is that any trade and purchase using digital currency is considered to be taxed by the IRS. The independent cryptocurrency investor Brandon Williams says the volume and volatility of cryptocurrency takes at least three or four hours every two weeks to record trade gains and losses. Only a small percentage of Americans report their cryptocurrency transactions to the IRS, according to a study from Credit Karma Tax. Less than 100 of the 250,000 federal tax returns prepared and submitted so far this year through the company have filed Forms 8949 for the benefits of cryptocurrency and losses, Credit Karma said on Tuesday. It shows that less than 0.04 percent of taxpayers. "Generally, Americans with a more complicated tax situation are then in the tax season, especially if they expect their money to be owed," General Tax Manager Karma Tax Jagjit Chawla said in a statement. "However, given the popularity of Bitcoin and other crypto currencies in 2017, we expect more people to report it." The company says 52 percent of its poll tax is millennium, and only 14 percent are at least 55 years old. Investors' interest in bitcoin and other crypto currencies in circulation keeps the price up several thousand percent higher. The lack of cryptographic tax filing "emphasizes the difficulty of reporting your profits and losses accurately," said Brandon Williams, a former investment banker who has independently traded cryptocurrency for the past two years. Williams said that he executes more than two cryptocurrency trades a day, and uses an online service called CoinTracking to record the transaction for tax purposes. The volume and volatility of cryptocurrency takes at least three or four hours every two weeks to record trade gains and losses, Williams said. IRS treats cryptocurrencies as properties rather than currencies. As a result, transactions such as bitcoin trading for other digital coins will be taxed as a sale of property for cash, which is then used to purchase another crypto. Revenues from bitcoin production through the "mining" process are also taxable, the IRS said. Williams said it would make more sense to him if cryptocurrency was treated as currency, and his term as property "is almost a deterrent in the pursuit of mainstream adoption." In addition, Williams will also "wait closer to April to file a case if there is more visibility and definition of the IRS about what is acceptable." IRS representatives say that nothing can be added outside the guidelines published on its website. About 1 million people filed taxes through Credit Karma when it launched its free tax service last year, the company said. It added that Credit Karma Tax is the fifth largest e-filing service. A survey of Lendedu and conducted by Pollfish in November found that slightly more than a third of respondents did not plan to report their bitcoin transactions to the IRS. About 64 percent of the 564 adult Americans who responded said they planned to report or have reported their bitcoin transactions.