Bitcoin blasts above $30,000 for the first time ever! Did you know in the US., cryptocurrencies such as Bitcoin are treated as property for tax purposes. In the US, in addition to buying, selling, and trading cryptocurrency, if you earn cryptocurrencies whether through mining, a job, airdrop, staking, or interest from lending you are liable for income taxes on the USD value of your crypto earnings. Whenever you cause a taxable event in your crypto portfolio activity you create a tax filing reporting requirement.
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