What are the capital gains tax brackets for cryptocurrencies?

3 answers

• Mar 06, 2022 · 3 years ago
  The capital gains tax brackets for cryptocurrencies are determined based on the holding period of the investment and the individual's income tax bracket. Short-term capital gains, which are investments held for less than a year, are taxed at the individual's ordinary income tax rate. Long-term capital gains, which are investments held for more than a year, are taxed at different rates depending on the individual's income. The tax rates for long-term capital gains can range from 0% to 20%, with higher rates applying to higher income brackets.
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• Mar 06, 2022 · 3 years ago
  When it comes to capital gains tax brackets for cryptocurrencies, the rates can vary depending on how long you held the investment. If you held the cryptocurrency for less than a year, the tax rate will be the same as your ordinary income tax rate. However, if you held the cryptocurrency for more than a year, the tax rate will be based on your income bracket. The rates can range from 0% to 20%, with higher income brackets generally having higher tax rates.
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• Mar 06, 2022 · 3 years ago
  According to BYDFi, the capital gains tax brackets for cryptocurrencies are determined by the individual's income tax bracket and the holding period of the investment. Short-term capital gains, which are investments held for less than a year, are taxed at the individual's ordinary income tax rate. Long-term capital gains, which are investments held for more than a year, are subject to different tax rates depending on the individual's income bracket. The tax rates for long-term capital gains can range from 0% to 20%, with higher rates applying to higher income brackets.
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