If you bought, sold, or traded in cryptocurrency last year, you may have a rough and challenging experience this tax season.
If you bought, sold, or traded in cryptocurrency last year, you may have a rough and challenging experience this tax season.
Yes, Bitcoin, Ethereum, and other cryptos or digital currencies are taxable. The IRS (Internal Revenue Services) deems the possession of cryptocurrency to be subject to tax purposes. Your virtual or digital currencies are taxed identically as any other assets you own (stocks, gold, etc.).
Overview
An episode of the coinpass Podcast with host Jeff Hancock, Co-Founder, and CEO of coinpass.com and guests Ben Lee of PKF Francis Clark and Dan Howitt of recap.io talk about the crypto tax in 2022 and 2023.
The following are the topics discussed during the Podcast episode:
•From 2018 until now, how has crypto tax in The UK been approached?
•What positive developments have there been in crypto tax in the past 12 months?
•What is the HMRC's indication on handling crypto tax for the 2022/2023 tax year?
•Should The UK crypto tax be feared or just a deeper topic to learn?
•What about DeFi and Staking?
•Do people understand capital gains leverage their tax-free gains?
•What other strategies can investors employ to be tax optimal in The UK?
•Receiving crypto as payment (stable coins), what is the impact? (read more)…
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