In the US, the Internal Revenue Service (IRS) treats digital currencies, such as Bitcoin, as property for tax purposes. This means that if you sell digital currency for more than you paid for it, you will have to pay capital gains tax on the difference. The tax rules for digital currencies can be complex, so […]
Taxes When You Sell Bitcoin
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million. Bitcoins are created as a reward for a process known […]
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How To Enter Crypto In H&r Block
If you’re looking to enter cryptocurrency into your H&R Block tax return, you’re in luck. The process is relatively simple, and H&R Block can help you every step of the way. Here’s a guide on how to enter crypto in H&R Block. The first step is to make sure that you have the right forms. […]
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Where To Report Crypto Gains
Where To Report Crypto Gains When it comes to reporting your crypto gains, it can be a little confusing as to where you should go. Here we will break it down for you. If you are a United States taxpayer, you report your crypto gains on your federal income tax return. You should report your […]
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How To Report Crypto Capital Gains
When it comes to trading and investing, cryptocurrencies are relatively new territory. As such, there are still a lot of unanswered questions when it comes to the tax implications of crypto transactions. One of the most common questions is how to report crypto capital gains. In this article, we’ll break down the basics of crypto […]
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