doesn't capital gains tax have a 1 year minimum? You have to hold it? It's been a while since I've been buying that since I have kids.
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doesn't capital gains tax have a 1 year minimum? You have to hold it? It's been a while since I've been buying that since I have kids.
No. You are required to record your gains, every time you cash out to fiat, and then report that total yearly amount to the IRS at tax time. You are not taxed for holding, but only each time you cash out.
All the more reason to figure out how to keep everything you do in crypto land.
hopefully more and more people and business will begin accepting cryptos!