Cryptocurrency Q&A
Do I have to pay taxes when I convert crypto?
Do I have to pay taxes when I convert crypto?
CryptoAlchemy
Fri Mar 28 2025
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7
answers
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I'm wondering if I need to pay taxes when I convert my cryptocurrencies. I'm not sure about the tax implications of such transactions and would like to understand if there are any taxes to be paid.
7 answers
Elena
Sun Mar 30 2025
As a result, such transactions typically lead to either a capital gain or a capital loss.
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KiteFlyer
Sun Mar 30 2025
Capital gains are taxed according to the specific rules outlined by the IRS for property transactions.
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Martino
Sun Mar 30 2025
The Internal Revenue Service (IRS) considers cryptocurrency as a form of property.
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emma_rose_activist
Sun Mar 30 2025
Similarly, capital losses can be deducted from taxable income, subject to certain limitations.
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Silvia
Sun Mar 30 2025
When individuals earn income directly from cryptocurrency activities, such as mining or staking rewards, this income is taxed as ordinary income.
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