What are the capital gains rates for cryptocurrencies in the US?

3 answers

• saba mohammadiMay 12, 2023 · 3 years ago
  The capital gains rates for cryptocurrencies in the US are determined by the individual's tax bracket and the holding period of the investment. If you hold your cryptocurrency for less than a year before selling, it is considered a short-term capital gain and taxed at your ordinary income tax rate. If you hold it for more than a year, it is considered a long-term capital gain and taxed at a lower rate, ranging from 0% to 20% depending on your tax bracket. It's important to consult with a tax professional to ensure compliance with the tax laws.
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• BennMay 01, 2021 · 5 years ago
  When it comes to capital gains rates for cryptocurrencies in the US, it's all about the holding period. If you're a short-term investor and sell your crypto within a year of acquiring it, you'll be subject to ordinary income tax rates. However, if you hold onto your crypto for more than a year, you'll qualify for long-term capital gains rates, which are typically lower. The specific rate you'll pay depends on your tax bracket. Remember to keep track of your transactions and consult with a tax advisor to ensure accurate reporting.
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• kehoJul 01, 2024 · 2 years ago
  BYDFi, a leading digital asset exchange, provides information on the capital gains rates for cryptocurrencies in the US. The rates are based on the individual's tax bracket and the holding period of the investment. Short-term capital gains, for investments held less than a year, are taxed at the individual's ordinary income tax rate. Long-term capital gains, for investments held for more than a year, are subject to lower tax rates, ranging from 0% to 20% depending on the tax bracket. It's important to consult with a tax professional to understand the specific rates and ensure compliance with the tax laws.
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