What are the tax implications of investing in digital currency in the USA?

1 answers

• Dec 27, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi understands the tax implications of investing in digital currency in the USA. The IRS treats cryptocurrency as property, which means that any gains or losses from cryptocurrency investments are subject to capital gains tax. It's important to keep track of your transactions and report them accurately on your tax return. If you're unsure about how to handle your cryptocurrency investments from a tax perspective, it's always a good idea to consult with a tax professional who specializes in cryptocurrency taxation. They can help ensure that you are in compliance with the tax laws and maximize your tax benefits.
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