A Simple Guide to Navigating Crypto Taxes
Cryptocurrency taxes can be complex, but they don't have to be intimidating. This guide breaks down the basics of what you need to know.
Capital Gains
In most jurisdictions, cryptocurrencies are treated as property. This means you'll owe capital gains tax when you sell, trade, or spend your crypto for more than you acquired it for.
Tracking is Everything
Keep meticulous records of all your transactions. Use a crypto tax software to automate the process and ensure accuracy. This will save you a massive headache when tax season arrives.