Crypto Taxes Explained For Beginners | Cryptocurrency Taxes
Crypto Taxes Explained For Beginners | Cryptocurrency Taxes
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Crypto Taxes | Taxes on Cryptocurrency for Bitcoin and Altcoins
Here are links for sites that will convert your crypto trades to IRS Format or integrate with your tax software:
Bitcoin Tax: http://bitcoin.tax/clearvaluetax
Crypto Trade: http://cryptotrader.tax?fpr=46b4e
Token Tax: https://tokentax.co?via=clearvaluetax
Welcome to our video about crypto taxes. We’ll discuss your crypto tax, your bitcoin taxes, and everything you need to know about cryptocurrency taxes and crypto. If you have been using Coinbase and have been dealing with bitcoin or any other cryptos, then this video will help you with your btc reporting requirements for your cryptocurrency transactions on your tax return.
Your brokerage, such as Robinhood, may provide a 1099-B where the cryptocurrency tax information is very nicely presented to you. However, if the brokerage you utilize is no US tax reporting friendly, then you will be best off with a crypto tax software to help you prepare the crypto tax form or the necessary forms required.
We hope this video aids you in bitcoin tax and coinbase taxes and also with your crypto tax rate. You need to know and understand the difference between long-term capital gains tax rates and short-term capital gains tax rates. This is very important to knowing how is crypto taxed.
And a lot of people ask do you pay taxes on crypto. It depends if you have a taxable event. For example, if you trade ripple for ethereum, yes, that’s a taxable event. That is something you need to input into TurboTax or H&R Block tax software or TaxAct. Turbotax cryptocurrency reporting will require you to populate the Schedule D. Well, that’s really Turbotax crypto or all major crypto tax software brands for crypto tax reporting purposes.
We hope this helps with your question about bitcoin tax and about crypto taxes explained in general.
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TAX EVASION IS MORALLY JUST
Isn’t the short term capital gain rate 15% and long term rate 10%? I thought the rates are set?
I’m glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love..
How about if you loss money?
the I AM SATAN (IRS) department has gotta go, 100% illegal. The Gov doesnt need your money, they Literally print all they need from that private bank their friends called the Federal Reserve. oh ya, wait, Trumps in charge now, we gots the ERS, and Nesera is being implemented 1 piece at a time. So, things are a Changing My Friends. Hey why IS the I AM Satan (IRS) located in Puerto Rico, a Non state, like DC for that matter? These are Glory Days, and weather Left or Right politically, we all want to keep our Hard earned Money. If you only Knew the REAL story….. lets keep watching it unfold. thank You Lord!! oh and ya Brother Video Dude, you are very well Spoken, GREAT jOB
I wonder if **DeBank** can be used to analyze hidden wallets?
Cheers for publishing this! Hoping for some help: My TRX Wallet has some USDT, and I have the backup phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how can I proceed with sending them to OKX Exchange?
Basically, I just made my first $300,000 in crypto trading. years of grinding, pivoting and failure, ideas not working out multiple consecutive times, depression, anxiety… but oh man once I saw the balance was over 300,000 – it really made it clear that all those years were worth it and has paid off, and it’s a paradigm shift that really lifts a weight off. This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes..
If you trade your bitcoin against a stable coin, does it trigger a taxable event? Seems no one is able to answer this question.
DePIN projects are getting big in 2025! Anyone looking into **Render Network**?
Tax are unconstitutional and theft. End the IRS. We should only pay 11% 6% to the fed 5% to the state of residence.
So if you buy BTC at 10,000 it goes to 60,000 and you want to take out your initial investment of 10,000 do you have to pay taxes on that?? it’s not a gain??
Just a million rules for how the government can steal your money and then give it away to Ukraine. Why do we have to pay taxes? Hunter doesn’t.
How do I report stolen coins?
Thank you for sharing! Hoping for some advice: My OKX wallet has some USDT TRX20, and I know the backup phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how to proceed with sending them to Coinbase Exchange?
Here are links for sites that will convert your crypto trades to IRS Format or integrate with your tax software:
Bitcoin Tax: http://bitcoin.tax/clearvaluetax
Crypto Trade: http://cryptotrader.tax?fpr=46b4e
Token Tax: https://tokentax.co?via=clearvaluetax
Isn’t decentralized currency the whole point of keeping it out of governments hands.
Tax scammers
The best solution is NO MORE IRS!!!
TRUMP last public speaking said talking a little on gold and Silver . Saying it look like gold was going to have a vantastic year. Then goes on to say silver will over exceed gold silver We’ll see a year like it has never seen before.yes this year 2025 for that reason I’m not trying to be Greedy investment in something real like Silver good luck to all thinking Bitcoin will go a little higher but has some serious problems starting with Using for sex trafficking and money laundering to huge problems In the fact a super computer’s coming out that can break Codes and get passwords
So watch your video on stocks basically the same rules right?
Question, say you stake your crypto currency and get interest payments in crypto but you haven’t bought that crypto in over a year. Does that still count towards short term capital gains or long term? I have a bunch of Solana and I haven’t bought any since 2023 but I’ve been getting crypto for staking it. Trying to get the long term capital gains tax and not short term. Anyone know?
Imagine getting stuck in the elevator with this guy and it gets stuck between floors.
Has anyone tested **Squid Router**? Curious how well cross-chain swaps work.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn’t understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
if you invest 10k and you gain 50k and cash out your initial investment… is that taxable?
How can the IRS impose tax on crypto when there are no regulations or laws governing crypto ? As xrp is designated a coin shouldn’t there be no tax on it ?
This beautiful Asian man speaks so elegantly
My concern is that I didn’t keep tract of every one of my transactions. It’s small amounts like $70.00. This was on Coinbase and Robinhood. I did most of it this year, so I won’t include it in this years taxes. But last year I made that small transaction and sold for a profit. I also don’t remember everything I bought and sold. Like I took some losses. I checked on MoonPay and can find forms.
IRS 🖕🏽 we give too much money to lazy child bearing clowns
Shouldn’t have to pay until it leaves the account. Another words, unt it hits my bank there should be no tax
Hi I am Alexandru Gabriel Turbatu, I made trading on Secondary ancoin market, and they are sayng I need to oay the tax to them?! To the platforme?!
I don’t know who needs to hear this but stop saving all your money, invest some of it if you want financial freedom. Invest in bitcoin, gold, silver, the forex market, buy stock, anything! Just make sure you’re utilizing the market.
Reminds me of how **blockchain bridges** work between networks!
I’m not giving the IRS a DAMN DIME!
Good info… thank you. Are these all the same as stocks?
I appreciate you and your content .Bitcoin is on its way to breaking records, getting closer to hitting new high prices, showing that it’s gaining more value and could go even higher than we’ve seen before. This could mean great things for people looking to invest, suggesting now might be a good time to get involved before it jumps even higher. It’s an exciting moment that could change the game in general…managed to grow a nest egg of around 7.2Biitcoin to a decent 26.4Biitcoin. At the heart of this evolution is Rolando Diaz, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. His holistic approach to investment and commitment to staying abreast of market trends make him an invaluable ally in navigating this new era in cryptocurrency investment….
I have bought xrp each week for the last 4 yrs. For example I want to sell 10% of my holdings… is it long or short term gains? How do I prove that the 15,000 tokens I’m selling are the ones I bought 4 yrs ago?
can you do a video talking specifically about the forms required? Schedule D, Form 8949, etc.
If there are no laws or regulations for cryptocurrencies how is it that the IRS can enforce taxes on something that doesn’t exist??
Hit 200k today. I’m really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in June 2024
Thank you for your insight.
If there are no laws or regulations for cryptocurrencies how is it that the IRS can enforce taxes on something that doesn’t exist??
Thank you for your helpful videos.
I bought cryptos in 2021 on various platform that are not available for US citizens now. Last year I sold all most of my positions and lost about $10000. My deposits and the only withdrawal were made only through Coin Base site. Do I need all information across all platforms to report losses? Or can I use the total deposits minus the total withdraw to report my losses? Thank you so much
I’m favoured, $60k every week! I can now give back to the locals in my community and also support God’s work and the church. God bless America..
Who do you submit the taxes to? Account manager?
Market Volatility & Uncertainty – Stock prices fluctuate due to economic conditions, global events, interest rate changes, and investor sentiment. Managing emotions during market downturns is a major challenge.
Wow, **Fantom Sonic** might become a top network in 2025!
Is trading crypto for crypto without ever converting to cash considered realized gains?
How about if you get BTC as a "gift bonus" for signup or for deposit? Is the ‘gift" or bonus taxable?