How do the 2022 long term capital gains tax brackets apply to profits from cryptocurrency trading?

1 answers

• Sneha GujjannavarMay 24, 2022 · 3 years ago
  BYDFi here! Let me break it down for you. The 2022 long term capital gains tax brackets are applicable to your cryptocurrency trading profits. If you hold your coins for more than one year before selling, you'll be subject to long term capital gains tax rates. These rates are usually more favorable compared to short term rates. To find out the specific tax brackets and rates for 2022, you can visit the IRS website. And remember, it's always a good idea to consult with a tax professional to ensure you're meeting your tax obligations. Now go out there and make some profitable trades!
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