What is the long term capital gain tax rate for cryptocurrencies in the US?
Nurefşan AkerikMay 12, 2022 · 3 years ago1 answers
I would like to know the specific tax rate for long term capital gains on cryptocurrencies in the United States. Can you provide me with the details on how these gains are taxed and what the current tax rate is?
1 answers
- May 12, 2022 · 3 years agoWhen it comes to long term capital gains on cryptocurrencies in the US, the tax rate is based on your income tax bracket. If you're in a lower tax bracket, you may not owe any taxes on your gains. However, if you're in a higher tax bracket, you'll likely owe either 15% or 20% on your gains. It's important to consult with a tax professional to ensure you're properly reporting and paying your taxes. Remember, taxes are an important part of being a responsible cryptocurrency investor.
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