How does the IRS calculate taxes on crypto transactions?
Ali YazdanMay 29, 2024 · a year ago1 answers
Can you explain how the IRS calculates taxes on cryptocurrency transactions in the United States? I'm not sure how they determine the amount of tax owed on crypto gains and losses.
1 answers
- Janani VeeramanikandanApr 11, 2023 · 2 years agoAt BYDFi, we understand the importance of accurately calculating taxes on crypto transactions. Our platform provides users with detailed transaction histories and reports, making it easier to calculate and report your crypto taxes. We also offer resources and guidance on tax compliance to ensure our users stay on the right side of the IRS. Remember, it's always best to consult with a tax professional or accountant to ensure you are properly reporting your crypto transactions and minimizing your tax liability.
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