How Is Cryptocurrency Taxed in the USA?

In the USA, cryptocurrency is treated as taxable property

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It attracts both Capital Gains Tax and Income Tax

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Additional taxes, such as VAT or corporation tax, may be applied, and compliance with international laws is necessary

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Tax rates on crypto income and short-term capital gains reach up to 37% in the USA

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Long-term capital gains range from 0% to 20%, except for NFTs categorized as collectibles, which may be taxed at 28%

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In USA, the amount of crypto tax depends on your earnings, the specific transaction, and the duration of crypto holdings

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Short-term capital gains can be taxed at rates up to 37% in the USA

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Long-term capital gains are subject to tax rates ranging from 0% to 20% in the USA

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NFTs are subject to a higher tax rate of 28% on capital gains in the USA

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In USA, it's crucial to accurately calculate and report your crypto gains and income to ensure compliance with tax regulations

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