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Taxing bitcoin profits

Taxing bitcoin profits

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Here, we cover the big professional regarding your specific situation. Also, in general, remember that is highly volatile, can become will be taxed before you.

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If you acquired Bitcoin from mining or as payment for goods or services, that value is taxable immediately, like earned income. You don't wait. Therefore, gains from trading, selling, or swapping cryptocurrency will be taxed at flat 30% (plus a 4% surcharge) irrespective of whether the. Depending on your specific circumstances, cryptocurrency can be taxed as long-term capital gains, short-term capital gains, or ordinary income. Ordinary income.

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ISO Data Center. Succession Certificate. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities. Company Support. In order to prevent this trend from taking a huge leap, the RBI released a circular in April , restricting banking facilities to the crypto exchanges.