Crypto Taxes: Key Points for the Upcoming Tax Season
Crypto Taxes: Key Points for the Upcoming Tax Season
💰 Crypto tax surprises ahead
As tax season approaches, here are important points about crypto taxes:
Taxable Events: Selling, exchanging, or using crypto can trigger capital gains taxes. Short-term gains (10%-37%) are taxed higher than long-term (0%-20%).
Record Keeping: The IRS now inquires about crypto transactions on tax forms. Maintain detailed records for accurate gain/loss calculations.
Offset Losses: Use capital losses to offset gains. Deduct up to $3,000 against ordinary income.
Stay organized and navigate your crypto tax obligations efficiently this season.
Crypto Taxes: What You Need to Know 💼💸 As tax season approaches, here are key points about crypto taxes: Taxable Events: Selling, exchanging, or using crypto can incur capital gains taxes. Short-term gains are taxed higher (10%-37%) than long-term (0%-20%)(Kraken)
