Article Image Crypto and Your Taxes

Crypto and Your Taxes

Written by Tim Picciott Subject: Bitcoin

In this podcast we address the difference between short term gains and long term gains and how some tax payers may even be in a 0% bracket without even realizing it.  

Ever wonder how Airdrops are taxed?  Or what about forks?  What happens when you swap a main net coin for a token. i.e Ethereum for an ERC-20 token.

How is mining treated and when is the tax applied?  Is the tax applied when you receive the coins or is it applied when you sell the coins?

What about wash sale rules?  Are you allowed to claim a loss and immediately buy your bitcoin back?   How does the IRS view crypto?

All of these subjects and more are discussed and make sure to stick around for our ad at the end which goes over important reasons to consider a crypto IRA?


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