Are there any specific tax considerations for cryptocurrency investors in 2017 that I should be aware of when using H&R Block's tax calculator?

1 answers

• Mcdaniel LesterMay 27, 2023 · 2 years ago
  When using H&R Block's tax calculator as a cryptocurrency investor in 2017, it's important to understand the specific tax considerations. Cryptocurrency is considered a taxable asset by the IRS, and any gains or losses from the sale or exchange of cryptocurrency are subject to capital gains tax. This means that if you sell your cryptocurrency for a profit, you will owe taxes on that gain. On the other hand, if you sell your cryptocurrency for a loss, you may be able to deduct that loss from your taxable income. H&R Block's tax calculator can help you accurately calculate your tax liability based on your cryptocurrency investments, but it's always a good idea to consult with a tax professional to ensure compliance with tax laws and regulations.
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