Cryptocurrencies are becoming increasingly popular, and with that, comes the need to file crypto taxes. If you are not familiar with crypto taxes, they are the taxes that are paid on the profits that are made from trading, investing, and using cryptocurrencies. There are a few things that you will need to do in order […]
How To File Crypto On Taxes
Cryptocurrency taxation is a relatively new phenomenon, and as such, there is much confusion surrounding it. In this article, we will attempt to clear up some of the confusion by explaining how to file crypto on taxes. Cryptocurrencies are considered property for tax purposes, which means that you must report any capital gains or losses […]
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How To File Bitcoin Taxes
The IRS released guidance in 2014 on how to treat bitcoin for tax purposes. The guidance states that bitcoin is to be treated as property, not currency, for federal tax purposes. This means that taxpayers who have received, sold, traded, or spent bitcoin during the year must report the transactions on their tax returns. The […]
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How To File Crypto Taxes On Turbotax
Cryptocurrencies are still a relatively new investment, and as such, there is a lot of confusion surrounding how to file taxes on them. For those who are unaware, you must report any profits you make from trading cryptocurrencies on Turbotax just like you would any other investment. Fortunately, TurboTax makes it easy to report your […]
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How To Enter Crypto Into Turbotax
When you are preparing your taxes, it is important to include all of your income. This includes income from traditional sources like wages and interest, but it also includes income from alternative sources like cryptocurrencies. If you have received cryptocurrency income during the year, there are a few things you need to do to enter […]
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When Do I Need To Report Crypto
When do I need to report my cryptocurrency transactions to the IRS? This is a question that many people have when it comes to their cryptocurrency investments. The answer, unfortunately, is not always straightforward. In general, you are required to report any cryptocurrency transaction that totals more than $20,000. This includes buys, sells, exchanges, and […]
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How Are Crypto Profits Taxed
Cryptocurrencies are a new and exciting investment option, but when it comes to taxes, there are a lot of unanswered questions. How are crypto profits taxed? How do you report them to the IRS? At the moment, there is no clear guidance from the IRS on how to report crypto profits, but there are a […]
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Where To Add Crypto On Turbotax
Cryptocurrencies are a new and exciting investment option, but tax laws surrounding them are complicated. If you’re looking to include your cryptocurrency investments on your Turbotax return, here’s where you need to add them. First, you need to determine how you hold your cryptocurrencies. There are three types of cryptocurrency holders: 1. Wallet holders: These […]
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How To Estimate Crypto Gains
Cryptocurrencies are becoming increasingly popular as investment vehicles. While the prices of many digital currencies are volatile, they have still generated significant returns for investors over the past year. If you are thinking about investing in cryptocurrencies, it is important to understand how to estimate your potential gains. In this article, we will discuss three […]
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What Are Capital Gains Taxes On Crypto
As cryptocurrencies become more popular, it’s important for individuals to understand the tax implications of trading and holding these digital assets. One question that often arises is: what are capital gains taxes on crypto? Capital gains taxes are a type of tax that is levied on the profits made from the sale of a capital […]
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