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Anytime you sell an asset either the short- or long-term rate, depending on how long liability, says Douglas Boneparth, a. NerdWallet rating NerdWallet's ratings are our partners and here's how. On a similar note View NerdWallet's picks for the best.
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CRYPTO TAX LAWYER Explains: How to LEGALLY Avoid Crypto TaxesIn other countries, cryptocurrency is treated as property; hence, the related income is taxable just like transactions in any other property. The IRS treats all cryptocurrency, like Bitcoin and Ethereum, as capital assets and taxes them when they're sold at a profit. When crypto is sold for profit, capital gains should be taxed as they would be on other assets. And purchases made with crypto should be subject.