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How do I calculate my taxes on Bitcoin?

Step 1: Select the tax year you would like to calculate your estimated taxes. Step 2: Select your tax filing status. Step 3: Enter your taxable income excluding any profit from Bitcoin sales. For most people, this is the same as adjusted gross income (AGI). Step 4: Enter your state’s tax rate. Step 1: Enter the purchase date and purchase price.

How much tax do you pay on Bitcoin?

Any Bitcoin held for less than a year before being sold or exchanged is subject to short-term capital gains tax, ranging from 10% to 37%. If you held Bitcoin for more than a year, long-term capital gains tax applies, ranging from 0% to 20%. The actual tax rates are based on your total taxable income.

How does bitcoin tax work?

Bitcoin.Tax is the most established crypto tax calculation service that can work out your capital gains and losses and produce the data and forms you need to file your taxes. Simply upload or add the transaction from the exchanges and wallets you have used, along with any crypto you might already own, and we'll calculate your capital gains.

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