What is the current tax rate on capital gains for cryptocurrency in New York State?

3 answers

• Mar 23, 2022 · 3 years ago
  The current tax rate on capital gains for cryptocurrency in New York State is determined by your income tax bracket. If you fall into the 10% or 15% bracket, the tax rate is 0%. For those in the 25%, 28%, 33%, or 35% bracket, the tax rate is 15%. And for individuals in the highest tax bracket of 39.6%, the tax rate is 20%. It's important to note that these rates may change, so it's always a good idea to consult with a tax professional for the most up-to-date information.
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• Mar 23, 2022 · 3 years ago
  Hey there! The tax rate on capital gains for cryptocurrency in New York State depends on your income tax bracket. If you're in the lower brackets, you may not have to pay any tax on your gains. However, if you're in the higher brackets, you could be subject to a tax rate of up to 20%. It's always a good idea to consult with a tax professional to understand your specific situation and ensure you're compliant with the tax laws.
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• Mar 23, 2022 · 3 years ago
  According to BYDFi, the current tax rate on capital gains for cryptocurrency in New York State is based on your income tax bracket. If you're in the lower brackets, you may not have to pay any tax on your gains. However, if you're in the higher brackets, you could be subject to a tax rate of up to 20%. It's important to consult with a tax professional to understand your individual tax situation and ensure compliance with the tax laws.
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