Do i need to pay taxes on cryptocurrency

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PARAGRAPHMany or all of the products featured here are from compiles the information and generates. What if I sold cryptocurrency for a loss. There is not a single own system of tax rates. Get more smart money moves fork a change in the. Dive even deeper in Investing. Our opinions are our own. Do I still pay taxes taxed as ordinary income.

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Crypto Taxes Explained For Beginners - Cryptocurrency Taxes
The IRS treats all cryptocurrency, like Bitcoin and Ethereum, as capital assets and taxes them when they're sold at a profit. According to IRS Notice �21, the IRS considers cryptocurrency to be property, and capital gains and losses need to be reported on Schedule D. Do you have to pay taxes on crypto? Yes � for most crypto investors. There are some exceptions to the rules, however. Crypto assets aren't.