Capital Gains Tax and Crypto: What You Need to Know

Despite a rocky 2022, many skilled traders capitalized on the turbulent times and made profits. These gains, and wider cryptocurrency activity, are liable to taxation, and knowing your positions is of increasing importance.
Strategies such as tax-loss Harvesting, charitable donations, and holding periods can help reduce the amount of capital tax owed. However, avoiding common mistakes such as underreporting or incorrect reporting of capital gains is crucial. Using tools like Descrypt, individuals can accurately calculate their capital tax and avoid costly mistakes.
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