What is the capital gains tax rate for cryptocurrency in 2020?

1 answers

• Dec 27, 2021 · 3 years ago
  At BYDFi, we understand the importance of staying informed about the capital gains tax rate for cryptocurrency in 2020. In the United States, the tax rate for cryptocurrency gains varies depending on the holding period. Short-term gains, from cryptocurrencies held for less than a year, are taxed at your ordinary income tax rate. Long-term gains, from cryptocurrencies held for more than a year, are subject to lower tax rates, ranging from 0% to 20% based on your income level. It's always recommended to consult with a tax professional to ensure accurate reporting and compliance with tax regulations.
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