What You SHOULD Know About Cryptocurrency Taxes

Are you new to cryptocurrency and unsure about how to handle taxes in 2024? In this video, we break down everything you need to know about cryptocurrency taxes for beginners. From understanding the basics of cryptocurrency taxation to reporting your gains and losses, we'll help you navigate the often confusing world of cryptocurrency taxes.

Crypto Tax Expert Introduction & Qualifications
Crypto taxes explained
How to report crypto taxes
Online gain calculation services

#CryptocurrencyTax #CryptoTax #CryptoTaxation #BitcoinTax #CryptoBeginners #TaxTips #taxation

[Onepunch]

Don’t they tax us enough with devaluing the dollar🤦‍♂️

[cryptomilitaryvet]

Right on Brother! This was needed for many. ✌️♥️

[alexs]

If you made enough to file crypto taxes for 2022, congrats

[shaundurant]

The audacity of these crooks! Every time you gain something they are owed.

[shaundurant]

Can't we just string up the tax guys.

[Mike-wcns]

Like it or not, I've paid taxes on my Capital Gaines from the very beginning. The last thing I want is a knock at the front door from the IRS, only to lose my profits and/or freedom.

[younglee]

How is cryptocurreny taxed when some portion of those bought muitiple times during the time is sold? For example, let's say I have bought $1, 000 crypto every month in 2023 and sold $10, 000 of the total (with some gain) on March 1, 2024. How does IRS calculate which portion of the total sold is more than a year or which is less than that?

[rjames]

Significant news that the London Lions Basketball Team at the former Olympic Copper Box Arena are now accepting Bitcoin Litecoin and Crypto ..⛹🏽‍♂️.. ⛹️‍♀️

(Via the world’s largest US based payment processor)

[CryptoSteve-O]

Tom, great video. Unfortunately, you are one of the very few crypto "influencers" who talk in depth about taxes. People who say they don't have to pay taxes....or they won't get caught, or taxes aren't legal, blah, blah, blah, will be in for a very rude surprise one day. No one LIKES paying taxes, but unfortunately, it is the law.

[Porphyrogenitus]

The true bitcoiner is of the _luftmenchen_ - the people of the wind. Of no fixed abode.

[theedub]

just tell me bro, if i lose on crypto what do i do? report it? can i not report it? do i pay taxes still? lmk bro like what

[Ritterkritterz]

You should explain why you have sunglasses on...weird when there's no explaination.

[jeffreyd]

Thx. What if I bought one btc for 35k two yrs ago. The current value is 45k, but I traded the one btc for a car or rv that is worth 25k. Can I take a 10k capital loss?

[rasbighigh]

42 percent of all purchases made of crypto owners are men that's kind of low that tells us that 58% has to be a mix of husband and wife and at least 17 to 20% is women am I correct

[Crypto_A-Z]

Hey Tom... is this shorter version the same as from February 23 ?... a few days ago...

[barrytherave]

How exactly are you paying taxes on UNREALISED profits or losses?>?? Surely its only when youve made a realised profit or loss you should pay?? Why would you be paying on something youve not even touched for say 2 years and is just sitting there going up or down, makes no sense. If i buy coin X at $1 and it goes up to $4 and its unrealised why would i pay tax on it if say the next week AFTER paying tax on an unrealised profit from that coin, it dropped to 0.30c.?? Ive then had to sell crypto asset thus leaving me with less tokens which have then dropped 80%, so im out of pocket in tax payment AND ive lost a significant portion of my crypto which then ALSO dropped in price. This literally makes no sense