How does the IRS treat taxes on cryptocurrency trading?

2 answers

• Dec 28, 2021 · 3 years ago
  As an expert in cryptocurrency trading, I can tell you that the IRS treats taxes on cryptocurrency trading as taxable events. This means that any gains or losses from cryptocurrency trading are subject to taxation. When you sell or exchange cryptocurrency, you may need to report the transaction and calculate your capital gains or losses. It's important to keep track of your transactions and consult with a tax professional to ensure compliance with IRS regulations.
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• Dec 28, 2021 · 3 years ago
  At BYDFi, we understand the importance of tax compliance when it comes to cryptocurrency trading. The IRS treats taxes on cryptocurrency trading as taxable events, similar to stocks and other investments. It's essential to keep accurate records of your transactions and consult with a tax advisor to understand your tax obligations. Our platform provides tools and resources to help you track your cryptocurrency transactions and stay compliant with IRS regulations.
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