Sold Bitcoin? 3 things to know before filing taxes

Sold Bitcoin?  3 things to know before filing taxes

Bitcoin (CRYPTO: BTC) made a stunning comeback towards the end of 2020, leaving many investors with triple-digit percentage gains that could impact their tax returns if they sold and took a profit. While receiving income is a slam dunk for investors, it also creates a tax liability in most cases.

So if you have bought or sold cryptocurrency and have no idea of ​​your reporting responsibilities, take note of these three things to get you started in the right direction.

Source Image: Getty Images.

1. The sale of Bitcoin is a taxable event

For those who wanted to learn more on cryptocurrency, Bitcoin provided a unique opportunity to “earn …

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