How Is Cryptocurrency Taxed?

Since Bitcoin was first introduced in 2009, interest in cryptocurrencies as an investment has slowly but surely gained steam.

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Because of this, it’s important that investors know the basics regarding filing and paying taxes on their cryptocurrency investments and income.

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Cryptocurrencies are treated as property, like stocks, bonds, and other capital assets.

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Investors are required to pay capital gain taxes on cryptocurrency when selling, trading, or disposing of their holdings.

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The amount is depending on an investor’s income, tax filing status, and the length of time that an investor owned a crypto before selling.

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For investors and businesses, the most essential thing to understand is that they are required to report crypto holdings, gains, and losses to the IRS when filing taxes.

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How Is Cryptocurrency Taxed?

Since Bitcoin was first introduced in 2009, interest in cryptocurrencies as an investment has slowly but surely gained steam.

RADICALFIRE.COM

Because of this, it’s important that investors know the basics regarding filing and paying taxes on their cryptocurrency investments and income.

RADICALFIRE.COM

Cryptocurrencies are treated as property, like stocks, bonds, and other capital assets.

How Cryptocurrency Taxes Work

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Investors are required to pay capital gain taxes on cryptocurrency when selling, trading, or disposing of their holdings.

Do You Have To Pay Taxes On Crypto?

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The amount is depending on an investor’s income, tax filing status, and the length of time that an investor owned a crypto before selling.

How Much Do I Owe In Crypto Taxes?

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For investors and businesses, the most essential thing to understand is that they are required to report crypto holdings, gains, and losses to the IRS when filing taxes.

RADICALFIRE.COM

FOR MORE ABOUT THIS POST, VISIT RADICAL FIRE

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