Crypto & Bitcoin Taxes Explained – Everything You Need To Know | CryptoTrader.Tax



For more information, Checkout our Complete Guide To Cryptocurrency Taxes:
https://www.cryptotrader.tax/blog/the-traders-guide-to-cryptocurrency-taxes

To learn how to import your cryptocurrency data into TurboTax:
https://www.cryptotrader.tax/blog/how-to-file-your-cryptocurrency-taxes-with-turbotax

To learn more about the “Cryptocurrency Tax Problem”:
https://www.cryptotrader.tax/blog/cryptocurrency-tax-problem

To learn how Cryptocurrency Mining is Treated for Tax Purposes:
https://www.cryptotrader.tax/blog/how-to-handle-cryptocurrency-mining-on-your-taxes

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CryptoTrader Tax

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33 Comments

  • For more information on EVERYTHING you need to know about crypto & taxes, checkout this help guide: https://cryptotrader.tax/blog/the-traders-guide-to-cryptocurrency-taxes

  • Fifo method oof
    If you dollar cost avg – it is possible that you have some crypto (eg Bitcoin) that is over a year old and some Bitcoin that you recently bought. So you will need to figure that one out coz they are taxed Differently

  • Can my tax be deductible in my earnings in crypto?

  • I started in 2016 and as time went on the exchanges have gone out of business and no way to find the info?

  • Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.

  • Many see forex as a get rich scheme but forex is not like that, it's a gradual process with the right tools and application you can make a living from forex trading..

  • Success is dependent on the action or steps you take to achieve it. Show me a man who doesn't have an investment and I will tell you how soon he'll go broke. Investment is building a safe haven for the future: with the right choice of investment that has at least 1% minimum risk and with an Expert guidance, profit and interest should be 💯 guaranteed.

  • Why most traders fail is cause they don't understand that trading isn't gambling and it takes proper charting and technical analysis which is used materialize the forex market and get desired results

  • Plz correct me if I’m wrong

    If I sold something for $100 in BTC, I will be taxed for the full $100.
    Basically one address to another transaction. The BTC I received will be regarded as a gift therefore the $100 is fully taxed when I cash out to my bank account.

    Question: Does this count as a zero cost basis? If so, how should I file my crypto taxes?

  • Investing in Bitcoin has made a lot of young investor millionaires, taking the right direction and investing for the future has been my prior motive. started investing with a professional trade who helps me out' Mrs Katarina

  • Making money is the plan and with Bitcoin Investment your plans can be fulfilled.

  • This is really a great video, but as for me I make huge profits on my investment since I started trading with Mr Fedrick Johnson, his trading strategies are top notch

  • Mrs Jane is legit and her method works like magic I keep on earning every single week with her new strategy,

  • Investing in crypto now is very cool especially with the current rise in the market now

  • Hello, I'm new to forex trade and I have been making huge losses but I recently see a lot of people earning from it. Can someone please tell me what i'm doing wrong

  • very ironic why did not he buy it earlier now is late a bit or what

  • Wait so if i trade bitcoin for eth, but i havent sold for any USD, i would still have to pay a percentage of the cash value, even if I havent sold it for cash and therefore dont have the cash? I'll get taxed just for the holding on to coins as the value goes up? I thought i only would get taxed based on the actual income from a sale in USD. What if the value of my crypto holdings rises significantly but i havent sold it yet and only have like $10 in the bank? Like if the value of my crypto holdings rose by $4000 but i havent sold it and only have $10 in the bank. I would be required to pay taxes on the rise in value, in USD to the IRS? Even though i havent actually sold it for cash and dont actually have that money?

  • How do you handle trades in Defi such as swapping on Uniswap and farming crypto? Can we provide our wallet address and your app can aggregate all the transactions?

  • I'm new to forex and I find it difficult using these strategies well. Where can I find a legit broker? that we manage my account and also teach me how to trade.

  • Investing successfully in forex requires the expertise of a professional broker that is why i have made profit since i started trading with Miss phiona florence she is the best

  • Canada?

  • Recent statement from PayPal:

    To help you calculate your gains or losses, we'll provide you with account statements with all your crypto transactions.
    Starting for the 2021 tax year, we'll also provide you with a 1099-B that you can reference when filing your taxes.

  • Hi! Great video🌝 what if my income as a single person is less than 38700$ (meaning I have to pay 12% on gains shortterm) but after selling my Bitcoin for instance for 100000$, does my “income” now increased and now I have to pay 24%?
    Thank you for your time!

  • l recommended a professional broker to you guys sometime ago, can I get person who invested with her
    comment below
    let's gooooo

  • Words are short for me to express how I feel right now exceptionalcyber on iG just helped me recovered my lost bitcoin, less than half an hour, you are the best hacker so far that I have ever seeing,

  • The best decision I ever made in my life was investing in financial market trust me guys, it pay alot . And I have come to realize that trading bitcoin is more profitable than holding it and waiting for it to skyrocket🥵

  • Hi…Please where can I invest and make good profits without being scared of loosing my money ….I’m actually looking for a good trader that can help me manage my trade and make good profits for me at the end of the day

  • Ok ty

  • IRS GONNA ARREST US ALL IN A COUPLE YEARS LOL

  • can i just take back the capital i invested in with out taking any profits?

  • Well shit now that Biden is president I think the capital gains tax went up

  • Capital gains and capital losses. What the fuck does that even mean. And why the fuck would you “owe” a percentage to the govt? For what?

  • suppose I traded $10 usdc to ltc and don't cash it out, how to calculate tax on crypto trade then?

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