Cryptocurrency Q&A
How much crypto can I sell without paying taxes?
How much crypto can I sell without paying taxes?
Andrea
Tue Sep 10 2024
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answers
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Hello there, I'm curious about something related to cryptocurrency and taxes. Specifically, I'm wondering how much cryptocurrency I can sell without having to pay taxes on it. Is there a certain threshold or limit that I should be aware of? Or is it based on a percentage of my overall income? I'd really appreciate some clarification on this matter as I'm planning to make some sales in the NEAR future and want to ensure that I'm compliant with all relevant tax regulations. Thanks in advance for your help!
5 answers
CryptoAlchemy
Thu Sep 12 2024
BTCC, a leading cryptocurrency exchange, offers a range of services to support investors in managing their digital assets. These services include spot trading, where investors can buy and sell cryptocurrencies at current market prices, as well as futures trading, which allows investors to speculate on the future price of cryptocurrencies.
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henry_taylor_architect
Thu Sep 12 2024
Cryptocurrency investors in the United States should be aware of the potential tax implications of selling their digital assets. The tax rates for selling cryptocurrency in 2024, with taxes due in April 2025, are dependent on the investor's filing status and income level.
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MysticGalaxy
Thu Sep 12 2024
For single filers, the tax rate on cryptocurrency sales ranges from 0% to 20%, depending on the amount of income earned. For example, if a single investor earns less than $47,025 in taxable income, the tax rate on their cryptocurrency sales will be 0%.
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GangnamGlitz
Thu Sep 12 2024
For married couples filing jointly, the tax rates are similar, but the income thresholds are doubled. Thus, a married couple earning less than $94,050 in taxable income will have a 0% tax rate on their cryptocurrency sales.
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Tommaso
Wed Sep 11 2024
In addition to trading services, BTCC also provides a secure wallet for storing cryptocurrencies. This wallet offers advanced security features to protect investors' digital assets from theft or loss.
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