How does capital gains tax apply to profits made from trading cryptocurrencies?

1 answers

• May 09, 2022 · 3 years ago
  BYDFi does not provide tax advice, but generally speaking, capital gains tax applies to profits made from trading cryptocurrencies. The tax rate will depend on various factors, including your income level and how long you held the cryptocurrencies. It's important to consult with a tax professional or use tax software to ensure you are accurately calculating and reporting your capital gains tax. Remember to keep track of your transactions and any relevant documentation for tax purposes.
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