1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
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.Only if you're trading every day. I hold for the most part, so I better not pay 40% in taxes, but I won't even get into a tax conversation in here.
.Get ready
Only if you're trading every day. I hold for the most part, so I better not pay 40% in taxes, but I won't even get into a tax conversation in here.
You a life saver breh. Appreciate it
For those of you that stake, what have you been doing with your staking rewards? Have you just been keeping them, turning them into BTC, buying other alts, or selling into USD/USDT?
I've mostly held mine, but I think I want to sell portions to go into other projects or have some USDT/USD available for dips. That's the toughest part for me, seeing if I want to continue to hold when so heavily in one coin, or sell here and there.
I've mostly held mine, but I think I want to sell portions to go into other projects or have some USDT/USD available for dips. That's the toughest part for me, seeing if I want to continue to hold when so heavily in one coin, or sell here and there.
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I'm curious about taxes, if you trade say every week what would takes look like?
Every trade, whether is is BTC to USDT, or BTC to ETH is considered a taxable event. If you're selling within one year of when you purchased whichever crypto, you'll pay your short terms capitals gains tax on it, which is what your normal income tax bracket percentage is.
At least that's how I've interpreted it over the past four years or so, and based on what most people with crypto tax knowledge have said.
Can you deduct trading, eth and mining fees?
so purchases and conversions are taxed? not just sales to dollar?
I'ma get punished
Yeah it ain't 2016 no mo. The government got hipped to the crypto game.
Yep from what I heard.
I heard the farming and lending profit is still taxed. But taxed at a different rate. Like getting interest on the money you have in a bank account.
