How does the long-term crypto gains tax differ from short-term gains tax?

1 answers

• Mar 20, 2022 · 3 years ago
  When it comes to the difference between long-term crypto gains tax and short-term gains tax, BYDFi has got you covered. Long-term gains tax is applied to profits made from the sale of cryptocurrencies that were held for more than a year. The tax rate for long-term gains is usually lower than the tax rate for short-term gains. On the other hand, short-term gains tax is applied to profits made from the sale of cryptocurrencies that were held for less than a year. The tax rate for short-term gains is usually higher than the tax rate for long-term gains. It's important to consult with a tax professional or accountant to understand the specific tax laws and rates in your jurisdiction. Remember, BYDFi is here to help you navigate the world of cryptocurrency and make informed decisions.
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