The IRS classifies cryptocurrencies as a type of property, rather than a currency. If you receive Bitcoin as payment, you must pay income taxes on its current value. If you sell a cryptocurrency for profit, you pay taxes on the difference between the purchase price and the product of the sale.
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Is platinum worth investing?
In the end, precious metals have their uses as investments. When political or economic uncertainty hits, investors often turn to alternative or tangible assets to protect their portfolios.
What are precious metals for investing?
Precious metals are metals that are rare and have a high economic value due to several factors, such as their scarcity, their use in industrial processes, hedging against exchange rate inflation and their role throughout history as a store of value. The most popular precious metals among investors are gold, platinum and silver.
What stocks does warren buffett currently own?
For more information on Warren Buffett, including videos of his appearances at Berkshire's annual meetings dating back to 1994, see CNBC's Warren Buffett Archive. Do you have any confidential news? We want to hear from you.
How can i avoid paying tax on gold?
Keep your investments for at least one year. They're taxed on ordinary income, meaning your earnings won't qualify for the special, lower capital gains tax brackets.
