What is the current tax rate on bitcoin in the United States?

1 answers

• Jamal ZabetanAug 14, 2023 · 2 years ago
  The current tax rate on bitcoin transactions in the United States is determined by the IRS. If you hold bitcoin for less than a year before selling, it is subject to short-term capital gains tax, which is the same as your ordinary income tax rate. If you hold bitcoin for more than a year, it is subject to long-term capital gains tax, which has different rates depending on your income level. As of 2021, the long-term capital gains tax rates range from 0% to 20%. It's important to note that tax laws can change, so it's always a good idea to consult with a tax professional or refer to the IRS website for the most up-to-date information.
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