What is adjusted gross income? Your adjusted gross income (AGI) is used to calculate your state taxes and qualify for loans. Calculating your AGI is easier than you might think, and the IRS offers a simple online tool. If you need to find your AGI to fil
There is currently a loophole for crypto. Since digital currencies are not currently classified as securities by the IRS, the wash sale rule does not apply. This makes something like tax-loss harvesting reasonably easy to do for crypto investors. You can technically sell coins that have fallen ...
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...
gather the documents you’ll need to file your taxes calculate your taxable income by tallying your gross income claim all applicable tax deductions and credits file your tax return with the IRS Below breaks down each step necessary for filing taxes online, starting with the forms you need. Wh...
Crypto staking can generate 5% to 10% yields for some tokens. Takeaway Cryptocurrencies are innovative currencies that have rewarded long-term investors. Digital assets are more volatile than most asset classes and are speculative. Plus, it is easier to calculate the intrinsic value of publicly ...
She also recommends diversifying yourinvestments for retirementby puttingpre-tax money into a 401(k)and post-tax money intoa Roth IRA. With a traditional 401(k), contributions are made with pre-tax dollars. This means that any money you put in comes straight from your paycheck, redu...
Plus, there's currently no "wash sale rule" for crypto. The rule blocks the tax break if you buy a "substantially identical" asset 30 days before or after the sale. Loading chart... You calculate your loss by subtracting your sales price from the original purchase price, known as "basis...
Explore Cointelegraph's variety of easy-to-follow "How to" guides to understand the complexities and harness the potential of crypto, blockchain, and AI
Though it would be great if you could put all your money into a Roth (think: tax-free growth and withdrawals), theInternal Revenue Service (IRS)limits how much you can contribute each year. You must be eligible to contribute based on your income. And if you are eligible, there are limi...
Figuring your cost basis when you sell property that you received as a gift is more complicated. You need to know: a) its adjusted basis to the owner just before it was given to you; b) its full market value at the time it was given to you, and c) the amount of gift tax, if ...