Tag: income earned

How is Crypto Taxed?

How is Crypto Taxed

Litchfield, NH Resident Has Questions

It is important to keep in mind that profits from cryptocurrencies, including bitcoin and other digital coins, are taxed by the IRS.  Just like a stock investment, cryptocurrency profits are subject to capital gains.  This may be short-term capital gains if the crypto was owned for less than one year or long-term capital gains for investments exceeding one year.  Similarly, any losses can offset other gains and lower the total amount that you pay in taxes.

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405 Daniel Webster Hwy
Merrimack, NH 03054
(603) 429-2009

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