CRYPTO TAXES – Cryptocurrency Taxes for Bitcoin and Altcoins
Ver Vídeo: CRYPTO TAXES – Cryptocurrency Taxes for Bitcoin and Altcoins
Welcome to our video about crypto taxes. We’ll discuss your crypto tax, your bitcoin taxes, and everything you need to know about cryptocurrency taxes and crypto. If you have been using Coinbase and have been dealing with bitcoin or any other cryptos, then this video will help you with your btc reporting requirements for your cryptocurrency transactions on your tax return.
Your brokerage, such as Robinhood, may provide a 1099-B where the cryptocurrency tax information is very nicely presented to you. However, if the brokerage you utilize is no US tax reporting friendly, then you will be best off with a crypto tax software to help you prepare the crypto tax form or the necessary forms required.
We hope this video aids you in bitcoin tax and coinbase taxes and also with your crypto tax rate. You need to know and understand the difference between long-term capital gains tax rates and short-term capital gains tax rates. This is very important to knowing how is crypto taxed.
And a lot of people ask do you pay taxes on crypto. It depends if you have a taxable event. For example, if you trade ripple for ethereum, yes, that’s a taxable event. That is something you need to input into TurboTax or H&R Block tax software or TaxAct. Turbotax cryptocurrency reporting will require you to populate the Schedule D. Well, that’s really Turbotax crypto or all major crypto tax software brands for crypto tax reporting purposes.
We hope this helps with your question about bitcoin tax and about crypto taxes explained in general.
You got it crypto tax girl and crypto tax guy! And watch out for any type of crypto scam! Those crypto scams have been running rampant in 2022!
And don’t forget to leave a comment of your best altcoins 2022 and your top altcoin picks! Thank you for watching this video about crypto taxes 2022!
ClearValue Tax and affiliates and related parties do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
For more information, check out our helpful website: https://clearvaluefinance.com/
I'm mining eth and have no idea if the same rules apply. I do not want trouble with the irs
This was straight to the point… This was clear
i pay taxes at work. i put cash in the bank. i take money out of bank and put in the stock market.. let say i made some money. i get taxed again. i don't get it…
This is a video well explained, all in relations to it's title. Well done mate. I personally think that BTC is becoming more of a store of value (like gold) than one that's used as currency (like cash). I think its deflationary nature is a headwind for BTC being used as a currency and it's rise right now also prevents that. I know that I'm not spending any of my BTC at the moment with upside of trad!ng much bigger right now. I’m not a pro tradr but I was lucky enough to make 13’B’T’C since late last year following the instriuctions and s!gnals from Allen Moritz. He runs program for investors/newbies who lack understanding on how trad!ng Bitcoin works, to help them utilise the volatility of the crypto mar:ket and also stack up more bitcoin. You can easily get to Allen on Եҽlҽցɾαต {AllenMoritz} ահαեsαթթ + 1 8 0 4 9 9 9 5 6 1 2 for Crypto related issues. Leave a like or sub-comment if you are headed to the moon with me.
When you used third party to generate trading report and you have capital gains, do you paid tax on that amount ?
If a person buy bitcoin, sold in a week for 20k usd gain. Then the next day he used that 20k usd gain to buy bitcoin again. However, this time bitcoin crashed to just 1k so he lost 19k. Will he still have to pay taxes on the 20k gain he made initially? Or the gain will be net against the loss and he only have to pay tax on the 1k gain? (20k minus 19k)
Forex investment controls a huge part of my passive income, I invest big and my profits are even bigger, courtesy of my broker Mr Fedrick Johnson
Thanks dude!
What if I do under 200 trades totaling under 20K for that tax year do I still have to report that?
XRP XLM LINK
Great video 🙏🏼
Straight to the point!!
ATOM(Cosmos) or Cardano🚀🚀🚀
2:00 Bit confused here. So on Coinbase. If I transfer my crypto from say BTC to US COIN. I pay no taxes until I transfer it to my wallet?
You just saved me a ton of money in 2022 🙌
How much tax usually is for swapping?
Buy LOOM 😍 it’s cheap right now and not near ATH , coin is getting an upgrade and my gut feeling it will be listed on CB this year
If i just buy and hold crypto in my account, do i answer YES to the crypto question on irs 1040??
Is converting bit coin into another alt coin taxable ?
Question. So in my account I have $5000. I have been buying litecoin and selling it once I make $100 a day. If that day I end up with $5100 on my account I’m only taxed on that $100 right? I’m confused because on my account my trade volume is over $50,000 because I buy and sell everyday. I won’t be taxed on my trade volume correct? Also, I have lost about $800 in a single day how is that taxed?
Algorand
Thanks 🙏
"Decentralized"
Something I can’t find and want to make sure first. How do taxes work if you buy and sell repeatedly? Is it all net profit only? I’m paranoid if I invest $500. Sell at $600. (Profit $100). Reinvest the $600. Sell at $700 (profit $100). Is it only $200 profit. Or every time I sold ($600 and $700) I’m looking at $1300. I assume that’s not correct and it’s just the net profit of $200 in this scenario right?
if you bought bitcoin at 1$ and now its, lets say 35k is the US saying since it's property not currency that I have to pay tax on the value of the coin for every year I hold it? 35k x 37% or say 15% every year without ever cashing out? because my house is property and i pay tax on its current value every year.
What if (for example) you bought 1 Eth/month for 12 months, and it's been roughly 11 months since your last purchase. Now you want to sell all of it. Would you have to pay capital gains or long term capital gains on all of the sales, or just the sale of one of the Eth in question?
Cardono
If I buy low, sell high, I trigger a taxable event on my capital gains. That’s required to be reported to the irs. Then if I buy when it goes low again, and sell high, I trigger another taxable event on my capital gains, am I paying taxes every single time I do that? Seems like irs would be double dipping at that point?
LOVE YOU BRO! ADA CARDANO TO THE MOON!
Any recommendations to a 3rd party service provider for CSV files?