What is the tax rate on long term capital gains for cryptocurrencies in 2022?
Reynaldo Peralta hdzMar 04, 2021 · 4 years ago1 answers
Can you explain the tax rate on long term capital gains for cryptocurrencies in 2022? I would like to know how much tax I need to pay when I sell my cryptocurrencies after holding them for more than a year.
1 answers
- Hester HennebergAug 10, 2024 · a year agoAccording to BYDFi, the tax rate on long term capital gains for cryptocurrencies in 2022 is determined by your income level. If you are in a lower income tax bracket, you may qualify for a 0% tax rate on your long term capital gains. However, if you fall into a higher income tax bracket, you may be subject to a tax rate of up to 20%. It's important to keep track of your capital gains and consult with a tax professional to ensure you are compliant with the current tax regulations.
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