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15% bracket capital gains not 0% - TurboTax Support
15% bracket capital gains not 0%
https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/Tax-Tips-for-Bitcoin-and-Virtual-Currency/INF29402.html
"Bitcoins held as capital assets are taxed as property
If...
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If virtual currency (i.e bitcoin, litecoin) were exchanged ...
When you turn virtual currency into anything real (including US$, gold coins or something else) you have to deal with the capital gains implications.
Related topics : virtual currency exchange bitcoin / virtual currency exchange / virtual currency like bitcoin / virtual currency bitcoin / sell virtual currency
Must I pay tax this year if I transfer bitcoin from ...
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Related topics : virtual currency exchange bitcoin / digital virtual currency and bitcoins / virtual currency exchange / virtual currency bitcoin / virtual currency
Should I only report on my ITR the transactions in ...
The IRS has made that clear in Notice 2014-21
Q-6: Does a taxpayer have gain or loss upon an exchange of virtual currency for other property?
A-6: Yes. If the fair market value of property received in exchange for virtual currency exceeds the taxpayer's adjusted basis of the virtual currency, the taxpayer has taxable gain. The taxpayer has a loss if the fair market value of...
Related topics : virtual currency exchange business / virtual currency exchange / virtual currency market / virtual currency
How do I report my cryptocurrency gains/losses when I ...
It depends on how those currencies were held and used. Based on that, the IRS determines whether to treat the currency as income or property.
Bitcoin used to pay for goods and services is taxed as income:
If you were not given a 1099-MISC for your Bitcoin, here are the steps to follow in TurboTax .
Employees must report their total...
Related topics : bitcoin value dollar / using bitcoin for currency exchange / pay with bitcoin / exchange bitcoins for dollars / bitcoin dollar exchange
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