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You only pay taxes on your crypto when you realize have a gain or the.
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Beginners Guide To Cryptocurrency Taxes 2023You're required to pay taxes on crypto. The IRS classifies cryptocurrency as property, and cryptocurrency transactions are taxable by law. Like these assets, the money you gain from crypto is taxed at different rates, either as capital gains or as income, depending on how you got your crypto and. How much tax do you pay on crypto in India? You'll pay 30% tax on profits from trading, selling, or spending crypto and a 1% TDS tax on the sale of crypto.
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