KimonoGlory
Sun Jun 09 2024
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5 answers
1181
Do you have to pay taxes when you swap crypto?
Hello there, I'm curious about something. When it comes to cryptocurrency transactions, does swapping one crypto for another automatically trigger tax obligations? I've heard differing opinions on this matter, and I'm trying to get a clear understanding. Is it necessary to declare and pay taxes on crypto swaps, or are there certain conditions or exemptions that apply? I'd appreciate it if you could clarify this matter for me.
AzurePulseStar
Sun Jun 09 2024
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6 answers
1574
Can I claim crypto losses on my taxes?｜. If your total capital losses exceed your total capital gains, US taxpayers can deduct the difference as a loss on your tax return, up to $3,000 per year ($1,500 if married filing separately).Yes , you can write off crypto losses on taxes even if you have no gains
Can I actually claim my losses in cryptocurrency on my taxes? I've heard that if my total capital losses outweigh my gains, there's a possibility of deducting the difference. Is this accurate? Also, would this deduction be limited to a certain amount per year? And another thing, what if I haven't had any gains? Would I still be able to write off my losses? I'm really curious about this, so could you please clarify?
Dario
Sat Jun 08 2024
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5 answers
996
Do I need to file crypto taxes if I made less than $600?
I'm not sure if I'm required to file taxes for my crypto transactions. The total amount I earned is less than $600. Do I still need to report it to the tax authorities? Or is there a threshold below which I'm exempt from declaring crypto-related income? I'm a bit confused about the tax regulations surrounding cryptocurrencies, and I don't want to run into any legal issues. Could you clarify this matter for me? I'd appreciate it if you could provide some guidance on how to handle my crypto taxes properly.
CryptoKing
Sat Jun 08 2024
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7 answers
1230
What happens if I sell my bitcoin on Cash App?｜If you sold bitcoin on Cash App, . Cash App will provide you with your IRS Form 1099-B based on the IRS Form W-9 information you provided in the app. Cash App does not report a cost basis for your bitcoin sales to the IRS.you may owe taxes relating to such sale(s)
Could you please elaborate on what happens when I sell my bitcoin using Cash App? Would Cash App be responsible for reporting my bitcoin sales to the IRS? And how would I know if I owe taxes on these sales? Additionally, does Cash App provide any assistance or guidance in calculating potential taxes owed? I'm quite unfamiliar with the tax implications of selling cryptocurrency and would appreciate some clarity on this matter.
Michele
Sat Jun 08 2024
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7 answers
1757
How to avoid crypto taxes in Dubai?
I'm curious, how can one avoid crypto taxes in Dubai? Is there a legal way to structure my investments in cryptocurrencies so that I don't have to pay taxes on my gains? Or are there any specific tax shelters or exemptions that I can take advantage of? I've heard rumors about certain loopholes, but I want to make sure I'm staying within the legal framework. Could you please clarify the situation for me?
