Crypto Taxes 101: What You Need to Know
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Crypto Taxes Simplified: Understanding Capital Gains, Income, and New Reporting Rules
This episode delves into the intricacies of crypto taxes, comparing them to stock taxes. If you hold crypto for over a year and sell, youll pay the lower long-term capital gains rate. Sell within a year, and its taxed as ordinary income. Getting paid in crypto is considered regular income. Crypto miners report earnings as self-employment income. Tracking every transaction is crucial to avoid overpaying. With many experiencing crypto gains last year, expect tax bills. Brokers now report crypto sales on form 1099-DA, with cost basis info available in 2026. TurboTax simplifies the process, importing trades and pulling cost basis from extra forms.
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