How Is Cryptocurrency Taxed? | The Motley Idiot

It is not probably the most thrilling a part of crypto investing, however if you happen to do make investments, you should know the way taxes on crypto work. Whereas cryptocurrencies are nonetheless new, the IRS is working onerous to implement crypto tax compliance.

There are fairly a couple of methods that you could find yourself owing taxes on crypto, and even buying and selling one cryptocurrency for one more is a taxable occasion. If you happen to do not preserve correct data, it may be onerous to piece collectively your good points and losses

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