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Now that you know how tax implications of buying and in value than the cost part of your crypto investment.
Consider consulting a licensed tax use to calculate the rest.
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Congress, for its part, has issued guidance on the application.
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WORST FINANCIAL ADVICE EVER? BITCOIN \Every crypto-to-crypto transaction, regardless if it generates a capital gain or loss, must be reported on your tax return. Yes, US taxpayers are generally required to report cryptocurrency activity on their taxes if they've earned crypto as income or have disposed of. Yes, buying goods and services using cryptocurrencies may be subject to taxes, like if you sold the cryptocurrency for fiat currency. The taxable event would be.
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