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this is applied to the 1 year period from my understanding, if bitcoin went down 50% based on the value you had invested in the beginning of the year, you pay
by thiagooffm 9y ago
this is applied to the 1 year period
from my understanding, if bitcoin went down 50% based on the value you had invested in the beginning of the year, you pay nothing of taxes, because you had no profit. and you only pay taxes if you sell it.
i frequently trade in the stock market and that's how it works there though.
- SirLJ 9y agoExactly, if you held it for one year or less, it is a considered a short-term gain and is taxed as ordinary income. Depending on your tax bracket for 2017, that could range from a tax rate of 10 percent to 39.6 percent. https://www.cnbc.com/2017/11/30/bitcoin-investors-beware-the-irs-wants-its-cut-and-you-may-not-know-it.html https://www.cnbc.com/2017/11/30/bitcoin-investors-beware-the...