Filing Your Crypto #taxes 101: How Does it Work?
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Here’s How to Benefit From Crypto Bear Markets at Tax TimeSource: ccPixs.comLast Thanksgiving, Bitcoin was in the middle of a bull run that would result in a record high of $19,511 just before Christmas. Now, Bitcoin is worth just $3,752.If you bought Bitcoin and other cryptos when their prices were high, there’s a silver lining around the gray state of crypto markets now: any losses you take this year could place you in a lower tax bracket. What’s more, claiming those losses is easier than you might assume.Read on to find out everything you need to know about how to file your crypto losses.Filing Your Crypto Taxes 101: How Does it Work?For the purposes of taxation, the US and most other governments consider cryptocurrencies to be assets. This means that whenever you trade #cryptocurrency, the (...)
