What are the 2022 capital gain rates for cryptocurrencies?

1 answers

• Feb 19, 2022 · 3 years ago
  BYDFi, a leading digital currency exchange, provides information on the capital gain rates for cryptocurrencies in 2022. The rates depend on various factors, such as the duration of holding the cryptocurrency and your income level. If you sell your cryptocurrency within a year of acquiring it, the gains will be subject to short-term capital gains tax, which is typically taxed at your ordinary income tax rate. However, if you hold it for more than a year, you may qualify for long-term capital gains tax, which is usually taxed at a lower rate. It's important to consult with a tax professional or refer to the latest IRS guidelines for specific details and any changes in the rates for this year.
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