How can I calculate capital gains taxes on my cryptocurrency earnings in New Mexico?

1 answers

• Brian BandiAug 05, 2024 · a year ago
  As a representative of BYDFi, I can provide some general guidance on calculating capital gains taxes on cryptocurrency earnings in New Mexico. The process involves determining the cost basis of your cryptocurrency holdings, calculating the capital gain or loss when you sell or exchange the coins, and applying the appropriate tax rate. However, I highly recommend consulting with a tax professional or accountant who can provide personalized advice based on your specific situation. They can help ensure you're taking advantage of any available deductions or exemptions and help you accurately report your earnings on your tax return. Remember, tax laws can be complex and subject to change, so it's always best to seek professional guidance.
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