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In terms of cryptocurrency taxation, the IRS views crypto as a capital asset. This puts it in the same category as stocks, ... There is no way to avoid taxes on your crypto-related income. If you ...
A gift of crypto is treated the same as other gifts. Inherited cryptocurrency is treated like other inherited assets. The wash-sale rule does not apply to cryptocurrency. 8 important things to ...
All brokers and some crypto exchanges provide detailed information on your trades each year on a Form 1099. The tax form typically provides all the information you need to fill out Form 8949.
Additionally, as mentioned above, you will be issued Form 1099-MISC by crypto exchanges if you earned $600 of income through your platform during the tax year. Obviously, as crypto taxes can get ...
The tax rate depends on the state you live in, how long you held the asset, and your tax bracket. “If you sell crypto that’s gone down in value, the capital loss gets written off against your ...
Cryptocurrency is the Wild West of the investment world. Not only are these digital currencies completely nontangible, but they fluctuate with such volatility that trading and investing in them can...
According to a survey from crypto portfolio tracking and tax software company CoinTracker, nearly 40% of crypto investors didn’t know that their transactions were taxable. As of March 27, 96% of ...
For many, 2021 marked their first year—and now first tax season—in cryptocurrency. WSJ tax columnist Laura Saunders breaks down how to navigate reporting digital assets to the IRS ahead of Tax ...
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