What are the tax implications of trading crypto futures in the US?

3 answers

• Masudrana MilonSep 18, 2021 · 4 years ago
  When it comes to trading crypto futures in the US, it's important to understand the tax implications. The IRS treats cryptocurrencies as property, which means that any gains or losses from trading crypto futures are subject to capital gains tax. This tax is calculated based on the difference between the purchase price and the selling price of the futures contract. It's important to keep track of all your trades and report them accurately on your tax return to ensure compliance with IRS regulations.
  503

  252
• MmotkimJan 11, 2021 · 5 years ago
  Trading crypto futures in the US can have tax implications that you need to be aware of. The IRS considers cryptocurrencies as property, so any profits you make from trading futures contracts are subject to capital gains tax. The tax rate depends on your income level and how long you held the futures contract. It's important to consult with a tax professional to understand your specific tax obligations and ensure you are reporting your trades correctly.
  457

  153
• Navjot Kumar SinghJun 19, 2021 · 4 years ago
  Trading crypto futures in the US can have tax implications that you should be aware of. According to the IRS, cryptocurrencies are treated as property, so any gains or losses from trading futures contracts are subject to capital gains tax. It's important to keep track of your trades, including the purchase price and selling price of each contract, as well as the dates of the trades. Consider consulting with a tax advisor to ensure you are meeting your tax obligations and taking advantage of any potential deductions.
  521

  131