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Establish a record-keeping system for all your transactions, and keep losses, time your dispositions to taxes you pay on bitcoin.
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Crypto Taxes Explained For Beginners - Cryptocurrency TaxesIt's a capital gains tax � a tax on the realized change in value of the cryptocurrency. And like stock that you buy and hold, if you don't. When crypto is sold for profit, capital gains should be taxed as they would be on other assets. And purchases made with crypto should be subject. You're required to pay taxes on crypto. The IRS classifies cryptocurrency as property, and cryptocurrency transactions are taxable by law.
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