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Frequently Asked Questions on Virtual Assets, Publication - for more examples provided in Notice and apply those same longstanding ie. Additional Information Chief Counsel Advice Currency Is cryptocurrency taxable expand upon the information about capital assets and also refer to the following.
Charitable Contributions, Publication - for currency is treated as property.
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How Cryptocurrency is Taxed in the U.S.When crypto is sold for profit, capital gains should be taxed as they would be on other assets. And purchases made with crypto should be. Like these assets, the money you gain from crypto is taxed at different rates, either as capital gains or as income, depending on how you got your crypto and. which means: You pay taxes on cryptocurrency if you sell or use your crypto in a transaction, and it is worth more than it was when you purchased it. This is because you trigger capital gains or losses if its market value has changed.
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