Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can […]
How To File Taxes On Crypto
Cryptocurrency taxes can be confusing, but they are still important to file. In this article, we will cover everything you need to know about crypto taxes. First, you need to figure out which taxes you need to pay on your crypto. The four most common types of crypto taxes are income tax, capital gains tax, […]
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How To Declare Bitcoin On Taxes
Bitcoin and other digital currencies are becoming more popular every day. As their popularity grows, so does the need to understand how to declare them on your taxes. Bitcoin is a digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Bitcoin is a decentralized currency, […]
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How Is Bitcoin Taxed Irs
Bitcoin, the world’s most popular cryptocurrency, is now a mainstream investment option, with its value reaching new heights in recent months. But what many people don’t know is that, as with any other investment option, bitcoin is subject to taxation. The US Internal Revenue Service (IRS) has been clear on the tax treatment of bitcoin […]
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How To Show Crypto Losses On Taxes
As the use of cryptocurrencies becomes more prevalent, taxpayers must grapple with how to report their digital currency holdings on their tax returns. The Internal Revenue Service (IRS) has not released specific guidance on how to report crypto losses, but there are a few methods taxpayers can use to try to claim these losses. One […]
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Do I Pay Taxes When I Convert Crypto
Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. As cryptocurrencies gain popularity, more and more people are […]
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What Percentage Of Crypto Is Taxed
When it comes to taxation, there are a few things that are certain in life – death and taxes. And for those in the cryptocurrency world, that third certainty may apply to their digital assets as well. In the United States, for example, the Internal Revenue Service (IRS) treats digital currencies as property. This means […]
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What Crypto Tax Forms Do I Need
Cryptocurrencies are a new and exciting investment option, but when it comes time to file your taxes, they can be a little confusing. Do you need to file a 1099-B? What about a Schedule D? And what the heck is a Form 8949? Don’t worry, we’re here to help. Below we’ll explain what each of […]
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How Do Taxes Work With Bitcoin
Whenever a taxable event occurs, Bitcoin users are required to report that event to the Internal Revenue Service (IRS). A taxable event is anything that has monetary value and can be taxed. For example, when you use Bitcoin to buy a cup of coffee, that is a taxable event. When you sell Bitcoin for cash, […]
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How Does Bitcoin Get Taxed
Bitcoin and other cryptocurrencies are subject to taxation in most countries. How this is done, however, can vary significantly from one country to another. In this article, we will take a look at how Bitcoin is taxed in the United States, Canada, the United Kingdom, and Australia. United States In the United States, the Internal […]
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