Everything You SHOULD Know About Cryptocurrency Taxes 2024
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- Опубликовано: 28 фев 2023
- 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.
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If you made enough to file crypto taxes for 2022, congrats
Don’t they tax us enough with devaluing the dollar🤦♂️
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?
calculate your cost basis, then when you sell (in profit) you will owe capital gains on the profit only.
i am not a CPA
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.
I don't have to pay taxes
I lost all my ftx data
Right on Brother! This was needed for many. ✌️♥️
Boa tarde.
👌 Fantástico 👏👏
👍👍
lets gooo
The true bitcoiner is of the _luftmenchen_ - the people of the wind. Of no fixed abode.
Hey Tom... is this shorter version the same as from February 23 ?... a few days ago...
Yea
@@TomCrown Cool... I see that one has disappeared from my saved playlist 😉🤣
Use this one, its much better
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)
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?
Think you use the price at the time of the transaction. But I’m not a CPA 🙏
Top 30%
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
Defi
You should explain why you have sunglasses on...weird when there's no explaination.
Ive been making content on youtube for 5 years.. Should i start every single video with an explanation of sunglasses...?
he
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
What are you talking about? No one said you have to pay taxes on unrealised "profits or losses". There was some talk of it as becoming a bill in Congress....but it was just talk.
You dont pay taxes on unrealized profits in the US.. This video doesnt suggest you do
That billionaire tax proposal only applies to people making 100M+ a year
Haha didn’t make and money only lost
Hacked the system, no taxes owed :D
What??? Noooo!!! 🤷😏