Do i have to pay taxes on my crypto gains

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Likewise, if the inverse is. The IRS classifies digital assets.

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Tax on Cryptos In CANADA 2023. How will you pay tax? What type of tax? Your Answer HERE. #bitcoin
The IRS clearly states that crypto may be subject to either income taxes or capital gains taxes, depending on how you use it. If you buy crypto and later sell it, any profits are taxed using the standard long-term and short-term capital gains rates (depending on whether. That is, you'll pay ordinary tax rates on short-term capital gains (up to 37 percent in , depending on your income) for assets held less.