What are the capital gains tax rates for cryptocurrency trading on Robinhood?

1 answers

• May 20, 2022 · 3 years ago
  According to my knowledge, the capital gains tax rates for cryptocurrency trading on Robinhood are determined by the duration of your investment and your income level. If you held the cryptocurrency for less than a year, it is considered a short-term capital gain and is taxed at your ordinary income tax rate. If you held the cryptocurrency for more than a year, it is considered a long-term capital gain and the tax rates can range from 0% to 20%, depending on your income level. Keep in mind that tax laws can change, so it's always a good idea to consult with a tax professional for the most accurate and up-to-date information.
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