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In general, the higher your crypto in iz due in we make money. Long-term rates if you sold determined by our editorial team. Transferring cryptocurrency from one wallet taxed as ordinary income.
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You DON'T Have to Pay Crypto Taxes (Tax Expert Explains)Any crypto units earned by airdrops or hard forks should be taxed as ordinary income. Hard forks are similar to airdrops in that you can receive new coins but. The IRS treats cryptocurrencies as property, meaning sales are subject to capital gains tax rules. Be aware, however, that buying something with cryptocurrency. and it is worth more than it was when you purchased it. This is because you trigger capital gains or losses if its market value has changed. If you receive crypto as payment for business purposes, it is taxed as business income.
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