Check out our free Cryptocurrency Tax Interactive Calculator, that in just one screen, will answer your burning questions about your cryptocurrency/bitcoin sales and give you an estimate of how much your sales will be taxed and much more. If you have these questions don’t worry, we have you covered. If you are new to the cryptocurrency/bitcoin investing world, you may have questions we often hear like, “How is my cryptocurrency taxed?”, “How are my profits/losses taxed?”, or “How much is the tax on my cryptocurrency/bitcoin sales?” According to our TurboTax Tax Trends Report, 2.9% of tax filers reported crypto transactions in tax year 2021 and 4.5% in the 25 to 34 age group reported crypto transactions in tax year 2021.Īlthough interest in cryptocurrency continues to grow and the IRS has issued guidance on virtual currency, new investors still have questions about what to do with it and how it is taxed. The growth of cryptocurrency/bitcoin investments has exploded in recent years.
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