What is the current capital gains tax bracket for cryptocurrency in 2022?

1 answers

• Gora NiangJul 16, 2021 · 4 years ago
  At BYDFi, we understand the importance of staying informed about tax regulations. While I cannot provide specific tax advice, I can give you some general information about the current capital gains tax bracket for cryptocurrency in 2022. The tax rates for cryptocurrency gains depend on your income level and the duration of your investment. If you hold your cryptocurrency for less than a year, it is considered a short-term capital gain and taxed at your regular 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. The long-term capital gains tax rates for cryptocurrency can range from 0% to 20%, depending on your income. It's always a good idea to consult a tax professional or refer to the IRS guidelines for the most accurate and up-to-date information on the current tax brackets for cryptocurrency.
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