How do I calculate the amount of taxes I need to pay on my crypto gains?

1 answers

• Green KellyAug 11, 2024 · a year ago
  Calculating taxes on your crypto gains can be a daunting task, but don't worry, I've got your back! To determine the amount of taxes you owe, you'll need to gather all your transaction records, including buy, sell, and exchange transactions. Then, calculate the capital gains or losses by subtracting the cost basis (the original value of the crypto) from the selling price. The resulting amount will be subject to taxes based on your tax bracket and the holding period of the assets. Remember to consult with a tax professional or use tax software to ensure you're accurately reporting your crypto gains and staying compliant with the tax laws in your country.
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