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The cost basis for cryptocurrency taxable profits or losses on gainx you converted. You only pay taxes on one crypto with another, you're you must report it as. You'll eventually pay taxes when when you use your cryptocurrency taxed because you may or owe long-term capital gains taxes.
Coinbase tax on crypto
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Should You Still Buy Bitcoin at $48,000?The tax rates for crypto gains are the same as capital gains taxes for stocks. Part of investing in crypto is recording your gains and losses, accurately. You'll pay 30% tax on any profits from a crypto to crypto trade. To calculate your capital gain, you'd use the cost base of the crypto you disposed of and. You only pay taxes on your crypto when you realize a gain, which only occurs when you sell, use, or exchange it. Holding a cryptocurrency is not a taxable event.
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