What are the tax implications of day trading with crypto?

1 answers

• Dec 19, 2021 · 3 years ago
  As an expert in the field, I can tell you that day trading with crypto can have significant tax implications. In fact, the tax treatment of cryptocurrencies is a complex and evolving area. The IRS in the United States has issued guidance on how to report crypto transactions, but there are still many unanswered questions. It's important to keep detailed records of your trades, including the date, time, and value of each transaction. This will help you accurately calculate your gains and losses for tax purposes. Additionally, it's a good idea to consult with a tax professional who is familiar with cryptocurrency taxation to ensure that you are complying with all applicable tax laws.
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