How does the new tax law affect the treatment of gambling losses in the world of digital currencies?

1 answers

• Nov 23, 2021 · 3 years ago
  At BYDFi, we understand that the new tax law has raised concerns among individuals who engage in cryptocurrency gambling. While we are not tax professionals, we can provide some general information. The treatment of gambling losses in the world of digital currencies will likely follow the same rules as traditional gambling losses. It is important for individuals to keep accurate records of their wins and losses and consult with a tax professional to understand the specific implications of the new tax law. Remember, compliance with tax regulations is crucial to avoid any potential issues in the future. If you have any further questions, feel free to reach out to a tax professional who can provide personalized advice based on your unique situation.
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