Before you jump into the world of cryptocurrency, you'll want to know about the tax implications.
That means that if you received payment in cryptocurrency, did not receive it as a gift, or got it by mining, you may need to pay tax on it,explained. If you moved your digital money from one account to another, or from one wallet to another, you should not have to pay taxes.
You must check a box for the crypto question, even if you didn’t have any cryptocurrency transactions in 2021.reported. The NFTs could also come with a hefty tax bill — a 31.8% tax rate on any profets.
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