Cryptocurrency Tax Implications | Tax on Bitcoin Investing | CPA EXPLAINS




In this video I explain the tax implications of cryptocurrency investing, bitcoin mining, selling and purchasing. I’ll show you several …


30 Comments

  1. I have looked for this answer but cannot find it. Please provide info if you can. Say I buy bitcoin at 10,000 and I sell it at 60,000. My total sale is 60,000……50,000 of which is taxable. Now, let’s say I make a second trade and I trade the entirety of that 60,000 again And I lose 50,000 of that second trade. I am back at my Original deposit of 10,000. Do I still owe taxes on the first trade/any taxes at all.
    I ask because the total profit and loss on the account is now zero

  2. Hi! Loved the video. Hoping you can help on debit card bitcoin rewards. I have the Fold card which I earn rewards each time I swipe the card. Since it’s rewards, do I have to pay to taxes on it?

  3. Bitcoin has really stood its ground and would keep breaking grounds, investors sure knows how profitable it is now. My advice to everyone is don’t just buy and hold bitcoin, Trade it!

  4. The world is changing! I'm glad to be part of that. The crypto has made so many millionaires already. it is the evolution of money. Thanks for making this informative video I just subbed 👍

  5. "Most people do not understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises just has the current market is down. Holding is profitable, although tradn is far more profitable. I was able to grasp the knowledge of trading crypto assets early enough, but i was still limited due to my lack of technical understandn of how to analyze the digital market, all that changed when i encountered Eward Jmaes services I’m not a pro trad er but I was lucky enough to make 7B T C since late last year followthe instruct|ons and sιǫnals from Mr Edward James. He runs program for Wealthy Elites on how ƚradıภg bitcoin works, helping them utilize the volatility of the crypto market and also stacking up more bitcoin. You can easily get him on 🆃🅴🅻 🅴🅶🆁🅰️🅼 [@Edwardjames022]]

  6. With the appearance of new lnvestors, there has been an expansion in the interest for cryptos while the H0DLers holding on with their hoIdings has diminished the suppIy. This is the reason I exhortation each novice to wander into trad!ng their coins with an exp:ert. Tradrs need to utilize and adjust this system into trad!ng for reasonable day by day proflts. Matthew Mark is incredibly proficient and separates complex market anaIysis into straightforward methods. You can study B!tcoin and other Altcoins from requiring a 1-hour every day meeting with Matt than you might learn in a year-long of inability trad!ng or individual exploration. I associated with Matt on Tҽɬҽցɾα𝓶 :- @MattMarkTribes and ᗯԋαts𝓐ρρ + 1 (804) 999 5612. Being on this side of the cryptoverse feels astonishing. Goodluck moon pals!

  7. Great information that I am looking for. Thanks. Now questions are: 1) what's about loss bitcoins to scammers? 2) what's about all fees for purchasing/selling 3) IRA bitcoins? Keep up your work.

  8. Thanks for making this video Lena. I had a question regarding gifts and interest on crypto currency. I signed up on a platform and they gifted me $5 worth of crypto. I then transferred that $5 plus other crypto currency that I purchased on that platform to another wallet that gives me interest and $40 worth of crypto for opening an account with them. From my understanding since I have just purchased and transferred crypto and not sold, mined, or used the crypto for services there is no taxable income on it? What about the $45 total that I have received as a bonus for opening an account?

  9. I’m a newbie when it comes to trading on Robinhood . My question is if I buy $100
    Of crypto currency’s and hold onto it past this year into 2022, and my purchase increases let’s say $1000 past my initial $100. Will I pay capital gains on it if it’s still invested or only if I cash it out .

  10. I have a question. On an exchange it's not as simple as you bought the coin and sold it. For example, someone buys on an exchange let's say a market buy for a $100 dollars worth of coin from the orderbook. The orderbook doesn't have exactly $100 order for the first listed order so that person buys up someone else's limit sell plus a fraction of the next higher price (slippage). Upon selling the same scenario happens but when selling. So even though There was the intention of buying once and selling once there was actually buying twice and selling twice. So two taxable events. Does the IRS accept making lots and making that one taxable event?

  11. If you send 1.00030541 bitcoin and there is a 0.00030541 bitcoin mining fee, do you have to pay capital gains taxes on the bitcoin that was paid to miners?

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