How does the 2022 capital gains tax for long-term and short-term cryptocurrency investments compare?

1 answers

• May 12, 2022 · 3 years ago
  At BYDFi, we understand the importance of staying informed about the latest tax regulations for cryptocurrency investments. In 2022, the capital gains tax rates for long-term and short-term cryptocurrency investments differ significantly. Long-term investments, held for more than one year, are subject to lower tax rates ranging from 0% to 20%. On the other hand, short-term investments, held for less than one year, are taxed at your ordinary income tax rate, which can be as high as 37%. It's crucial to consult with a tax professional to ensure you comply with the regulations and make informed decisions about your cryptocurrency investments.
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