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There are instances where you people mistakenly overlook this type Bitcoin, it's a taxable event.
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New IRS Rules for Crypto Are Insane! How They Affect You!Do you have to pay taxes on crypto? Yes � for most crypto investors. There are some exceptions to the rules, however. Crypto assets aren't. When crypto is sold for profit, capital gains should be taxed as they would be on other assets. And purchases made with crypto should be subject. Cryptocurrencies on their own are not taxable�you're not expected to pay taxes for holding one. The IRS treats cryptocurrencies as property for tax purposes.