Did you know that just about 1.62 percent of U.S. crypto owners told the IRS about their crypto in 20221? With more than $2.4 trillion in assets and 16,000 kinds of cryptocurrencies, the tax stakes are high2. Since the IRS sees cryptocurrencies as property, buying, selling, or using them can lead to taxes2. It’s important … Read more
Trading one cryptocurrency for another is a taxable event1. You must track gains and losses for each trade accurately. Bitcoin Depot ATMs across the U.S. make buying Bitcoin easy. But remember, this is also a taxable event1. The IRS sees cryptocurrencies as property, making tax compliance vital. Whether buying, selling, or mining, knowing IRS rules … Read more
Did you know the taxes on long-term capital gains from crypto in the US can vary? They go from 0% to 20% based on your income and how long you’ve held the assets. For short-term gains, from assets held for under a year, the rate can hit up to 37%. This could mean a big … Read more
Did you know only 1.62 percent of U.S. crypto owners reported their earnings to the IRS in 20221? This shows a big gap in following tax rules for cryptocurrency. It’s very important to know about cryptocurrency tax laws. If you’re making money by trading or selling crypto, you need to pay capital gains tax. This … Read more
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