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Taxes on Crypto

Posted on 5/25/22 at 4:02 pm
Posted by Perception
Member since Sep 2017
853 posts
Posted on 5/25/22 at 4:02 pm
For the short term (buy and sell within 1 year)…how do you know if its worth it to sell crypto when u factor in the taxes that you have to pay?
Posted by iAmBatman
The Batcave
Member since Mar 2011
12382 posts
Posted on 5/25/22 at 5:06 pm to
You’re taxed on the gain, not the total amount of the sale. You aren’t being taxed into a negative return.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82367 posts
Posted on 5/25/22 at 9:59 pm to
I highly suggest you not jump in and out of a position. Much like you shouldn't day trade stocks. Buy a quality project and hold long term.
Posted by Pendulum
Member since Jan 2009
8189 posts
Posted on 5/25/22 at 10:20 pm to
Hifo and use an app to track all your trades. I use koinly.

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