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Crypto Tax Breaks USA:
- Hold your crypto for over 1 year to pay 0-20% on long-term gains.
- Gift up to $18,000 of crypto per recipient per year without reporting tax.
- You pay 0 long term capital gains if under $47,025 in taxable income.
CoinLedger
@CoinLedger
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Joined February 2018
- Crypto Tax Crash Course (USA) — Simple & Actionable Selling, swapping, or spending crypto = taxable event. Even BTC → ETH counts as selling BTC. Every one of these goes on Form 8949 as a capital gain or loss. 2. Income-Based Crypto (taxed the day you receive it) These are
- 🚨 Illinois just did what no state ever has. It is now taxing crypto TRANSFERS, not just gains. Starting Jan 2027: a 0.2% tax on digital asset transactions (exchange, transfer, custody) handled for Illinois customers. It technically falls on the exchange. But they collect it
- Tax Tip: your new 1099-DA can report a gain way bigger than you actually made. Bought $10k of BTC on one exchange, moved it to your own wallet, then sold for $12k on another? That form can show $12k in proceeds with $0 cost basis. Your real gain was $2k. Fix: report your
- Tax Tip: your new 1099-DA can report a gain way bigger than you actually made. Bought $10k of BTC on one exchange, moved it to your own wallet, then sold for $12k on another? That form can show $12k in proceeds with $0 cost basis. Your real gain was $2k. Fix: report your
