Are there any tax implications when using a fidelity bank HSA to invest in cryptocurrencies?

3 answers

• Rosario CochraneSep 26, 2020 · 5 years ago
  Investing in cryptocurrencies through a fidelity bank HSA may have tax implications. The IRS treats cryptocurrencies as property, so any gains or losses from cryptocurrency investments made through an HSA may be subject to capital gains tax. It's important to consult with a tax professional to understand the specific tax rules and implications of investing in cryptocurrencies through a fidelity bank HSA.
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• Michel N'choSep 25, 2021 · 4 years ago
  Yes, there are tax implications when using a fidelity bank HSA to invest in cryptocurrencies. The IRS considers cryptocurrencies as property, and any gains from cryptocurrency investments made through an HSA may be subject to capital gains tax. It's crucial to keep accurate records of your cryptocurrency transactions and consult with a tax advisor to ensure compliance with tax regulations.
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• SheRwait SaeedNov 03, 2024 · 9 months ago
  When investing in cryptocurrencies through a fidelity bank HSA, it's essential to consider the potential tax implications. The IRS treats cryptocurrencies as property, and any gains realized from cryptocurrency investments made through an HSA may be subject to capital gains tax. It's advisable to consult with a tax professional to understand the specific tax rules and reporting requirements for cryptocurrency investments made through a fidelity bank HSA.
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