Are there any tax implications when closing a TD Ameritrade account to invest in digital currencies?

1 answers

• Dec 30, 2021 · 3 years ago
  When you decide to close your TD Ameritrade account and invest in digital currencies, it's important to be aware of the tax implications. Selling securities in your TD Ameritrade account may trigger capital gains tax on any profits. The tax rate will depend on the duration of your investment. Additionally, if you have any unrealized losses in your TD Ameritrade account, you may be able to use them to offset capital gains from your digital currency investments. To ensure compliance with tax laws and optimize your tax strategy, consulting with a tax professional is recommended.
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