Cryptocurrency holders can spend their tokens with merchants that choose to accept crypto. But the IRS views spending your crypto as selling it. That’s because the government deals in dollars and cents, so it considers your transaction as an exchange of your crypto for dollars—much like afore...
If you’re a crypto trader who had to sell coins at a loss last year, you may be able to leverage your losses to save on your tax bill this year. There’s no need to be apprehensive about reporting your capital gains income and losses.TaxAct®has the resources you need to help yo...
Because cryptocurrencies are viewed as assets by the IRS, they trigger tax events when used as payment or cashed in. When you realize a gain—that is, sell, exchange, or use crypto that has increased in value—you owe taxes on that gain. For example, if you bought 1 BTC at $6,000 ...
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Cryptocurrency is treated like property for tax purposes. You have gains and losses on your crypto. Depending on how many trades you did, this can be a daunting task. Some exchanges just send you a Form 1099-B which simply shows your proceeds (buys and sells combined) and requires you to...
How much should you invest? Many of the experts we spoke with suggested, as a general rule, to invest a set percentage of your after-tax income. Although that percentage can vary depending on your income, savings, and debts. “Ideally, you’ll invest somewhere around 15%–25% of your...
Thelatest crypto rallymay be good news for digital currency investors. But if you're still recovering fromlast year's losses, it may be possible to score a tax break on your 2022 return. The crypto marketplunged by nearly $1.4 trillionin 2022 after a series of bankruptcies, liquidity issues...
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2024's 10 Best-Performing Stocks The best-performing stocks of the year aren't household names, but they show what's hot in the market. Wayne DugganJan. 2, 2025 10 Best-Performing ETFs of 2024 These funds all trounced the returns of the S&P 500 in 2024. ...