JejuJoyfulHeartSoul
Thu Jul 18 2024
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5 answers
1385
How are Bitcoin gains & losses taxed?
Good afternoon, I'm interested in understanding how the taxation of Bitcoin gains and losses works. Could you please elaborate on the tax treatment of cryptocurrency transactions, specifically Bitcoin? I've been hearing conflicting information on whether they're taxed as capital gains, income, or in some other manner. It would be great to have a clear understanding of the tax implications, including any specific rules or exemptions that might apply. Additionally, how does the taxation differ if Bitcoin is used as a medium of exchange versus an investment? Thank you for your assistance in clarifying this matter.
