Skip to content

Prerequisites

How_the_US_Government_Views_Crypto_Assets

Subgraph

graph LR 1["How the US Government Views Crypto Assets"]-->0{"What are the Tax Implications"} 0{"What are the Tax Implications"}-->2["Whats Going On With El Salvador"] click 1 "../How_the_US_Government_Views_Crypto_Assets" "How the US Government Views Crypto Assets" click 2 "../Whats_Going_On_With_El_Salvador" "Whats Going On With El Salvador"

Description

Cryptocurrencies are considered property for tax purposes in the United States. This means that any gains or losses from cryptocurrency transactions are taxable. For example if you buy a cryptocurrency for 1000 and sell it for 1500 you would have to report a 500 gain on your taxes. If you buy a cryptocurrency for 1000 and sell it for 500 you would have to report a 500 loss on your taxes.

Links

Links to other educational resources here: