The federal income tax system is progressive, which means that tax rates go up the greater taxable income you have. The term "tax bracket" refers to the income ranges with differing tax rates applied to each range. When figuring out what tax bracket you
Yes, if you use a crypto asset to buy another crypto asset, you must pay tax. The logic behind this is that you used it as a medium of exchange. Since you used one crypto to buy another, there is something that you may have gained. Exchanges that facilitate a transaction like this a...
In the trading world, this means that once you take a position, you look for evidence that you’re right instead of watching for reasons you might be wrong and should exit the trade. Many psychologists believe we are hard-wired to do this. Traders train themselves to minimize their biases ...
Form 1040 isn't as long as it used to be, thanks to a few new schedules. This article provides guidance for filling out Schedule 3 and explains which taxpayers may need to use it.
Building an investment portfolio may require personalization and finesse, but it can also be ultra-simple.
Why did I receive a 1099-K from my crypto exchange? Receiving a 1099-K from your crypto exchange means that you’ve engaged in transactions through the exchange that meet the IRS reporting threshold. This could include trading or selling crypto. For more detailed information on Form 1099-K ...
Costs such as trading commissions are subtracted from realized gains before taxes to arrive at net investment income. Other forms of income, such as wages, are not included. NII has been taxable above certain thresholds since Jan. 1, 2013. Known as the net investment income tax, it was pass...
much in the same way that other equities and financial trades are reported. The goal is to eliminate any reporting gap and provide visibility to the IRS about potentially taxable capital gains that individuals may accrue from cryptocurrency trading. The impact on cryptocurrency traders is that trades...
Those who own crypto via Bitcoin futures can readily sell their positions in the market when it’s open, though you’ll want to look forthe best brokers for cryptoif you’re trading regularly. But if you need to access your money immediately, you’ll have to take whatever price the marke...
One of theworld's largest crypto-asset exchangesis ready for you. Enjoycompetitive fees and dedicated customer supportwhile trading securely. You'll also have access to Binance tools that make it easier than ever to view your trade history, manage auto-investments, view price charts, and make ...