Are there any tax implications when buying crypto real estate?

1 answers

• May 15, 2022 · 3 years ago
  Buying real estate with cryptocurrency can have tax implications. The IRS treats cryptocurrency as property, so any gains made from selling or exchanging cryptocurrency are subject to capital gains tax. This means that if you sell your cryptocurrency for a profit and use the proceeds to purchase real estate, you may be liable for capital gains tax on the sale of the cryptocurrency. It's important to consult with a tax professional to understand the specific tax implications in your jurisdiction and to ensure compliance with tax laws.
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