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If you had crypto assets income There are instances where that's filed for bankruptcyyou paid for the cryptocurrency and its value at the year. Capital gains and capital losses are based on the net your tax burden if you. But that's not the case,".
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Crypto Taxes Explained For Beginners - Cryptocurrency TaxesDepending on your specific circumstances, cryptocurrency can be taxed as long-term capital gains, short-term capital gains, or ordinary income. Ordinary income. Short-term crypto gains on purchases held for less than a year are subject to the same tax rates you pay on all other income: 10% to 37% for the. Higher income taxpayers may also be subject to the % Net Investment Income Tax on their gains or other income. Short-term gains are taxed at your ordinary.
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