What are the capital gains taxes on Bitcoin?

Let's say you bought Bitcoin for $15,000 and sold it at $35,000; you've earned a $20,000 capital gain that you may have to split with the IRS. There are two categories of capital gains taxes: short term and long term. If you hold your Bitcoin for a year or less, you'll pay short-term capital gains rates that are taxed like ordinary income.

What are long-term capital gains taxes?

For profits on real estate or property to be considered long-term capital gains, the IRS says you have to own the home and live in it for two of the five years leading up to the sale. You can exempt up to $250,000 in profits from capital gains taxes if you sold the house as an individual,...

How much is capital gains tax on crypto?

For single filers, the capital gains tax rate is 0% if you earn up to $40,000 per year, 15% if you earn up to $441,450 and 20% if you make more than that. This IRS worksheet can help you do the math. If you owned your crypto for less than 12 months, the taxes you pay will be the same as your normal income tax rate.

What is the capital gains tax rate on Small Business stocks?

Two categories of capital gains are subject to the 28 percent rate: small business stock and collectibles. If you realized a gain from qualified small business stock that you held for more than five years, you generally can exclude one-half of your gain from income. The remaining gain is taxed at a 28 percent rate.