What is the short term crypto tax rate in the US?

3 answers

• Mathis RigaudNov 24, 2023 · 2 years ago
  The short term crypto tax rate in the US is based on your ordinary income tax rate. If you hold cryptocurrency for less than a year before selling or exchanging it, any profits will be taxed as ordinary income. This means that the tax rate can range from 10% to 37%, depending on your income bracket. It's important to consult with a tax professional or use tax software to accurately calculate and report your crypto taxes.
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• AKSHAY M KOct 17, 2023 · 2 years ago
  Hey there! The short term crypto tax rate in the US is the same as your regular income tax rate. So, if you're in the 22% tax bracket, any profits you make from short-term cryptocurrency investments will be taxed at 22%. Keep in mind that tax laws can change, so it's always a good idea to stay updated and consult with a tax expert for the most accurate information.
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• sandraNov 09, 2021 · 4 years ago
  According to BYDFi, the short term crypto tax rate in the US is determined by your ordinary income tax rate. This means that if you hold cryptocurrency for less than a year before selling or exchanging it, any profits will be subject to your regular income tax rate. It's important to keep track of your crypto transactions and consult with a tax professional to ensure compliance with tax regulations.
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