Crypto Taxes Explained For Beginners | Cryptocurrency Taxes

Crypto Taxes | Taxes on Cryptocurrency for Bitcoin and Altcoins

Here are links for sites that will convert your crypto trades to IRS Format or integrate with your tax software:

Bitcoin Tax:
Crypto Trade:
Token Tax:

Welcome to our video about crypto taxes. We’ll discuss your crypto tax, your bitcoin taxes, and everything you need to know about cryptocurrency taxes and crypto. If you have been using Coinbase and have been dealing with bitcoin or any other cryptos, then this video will help you with your btc reporting requirements for your cryptocurrency transactions on your tax return.

Your brokerage, such as Robinhood, may provide a 1099-B where the cryptocurrency tax information is very nicely presented to you. However, if the brokerage you utilize is no US tax reporting friendly, then you will be best off with a crypto tax software to help you prepare the crypto tax form or the necessary forms required.

We hope this video aids you in bitcoin tax and coinbase taxes and also with your crypto tax rate. You need to know and understand the difference between long-term capital gains tax rates and short-term capital gains tax rates. This is very important to knowing how is crypto taxed.

And a lot of people ask do you pay taxes on crypto. It depends if you have a taxable event. For example, if you trade ripple for ethereum, yes, that’s a taxable event. That is something you need to input into TurboTax or H&R Block tax software or TaxAct. Turbotax cryptocurrency reporting will require you to populate the Schedule D. Well, that’s really Turbotax crypto or all major crypto tax software brands for crypto tax reporting purposes.

We hope this helps with your question about bitcoin tax and about crypto taxes explained in general.

Thank you for all your support! Please check out our other videos about investing in the stock market and in cryptocurrencies.

If you would like to join us in the stock market, you can get started on Robinhood and by using this link, you’ll get bonus stock to get you started:

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This is our TurboTax Link for your tax preparation needs:

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ClearValue Tax and affiliates and related parties do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!

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About the Author: Sara Robinson


  1. And when I meant send. I’m talking about sending it to someone else’s crypto wallet not exchanging it for dollars yet. Expecting a reply soon

  2. Hello sir, wanted to know, if I send crypto of 60000 dollars which I made from 10000 dollars will I be taxed if I don’t sell it yet?

  3. <<I would advice anyone embarking on crypto investment to get a professional who will manage your account with less loses.I invest with a strategic crypto trader assigned by a crypto company that trades for me and returns my profit on weekly basis

  4. <<I’m new to cryptocurrency and I don’t understand how it really works.Can someone guide me on the right approach to investing and making profit from cryptocurrency investment?

  5. I really feel left aside hearing and seeing several testimonies from people on profits they make from crypto/Forex investments. Can someone please recommend a good expert that can trade on my behalf and generate profits for me🥺🥺🥺

  6. Here's one question, if you in a state that has State tax, do YOU pay taxes to the state from your gain or just IRS? Thank you!

  7. Although I see every video you post (you are THE BEST) I just came across this one from over a year ago and now more than ever, it all applies.
    Do I assume correctly that in order to declare the losses on my crypto investments this year I MUST SELL ALL the crypto in question? Otherwise, is NOT a realized loss. Is this correct? Thanks

  8. I need help so a few months ago I lend $30,000 BTC now they will be repaying it back. When I get it back I will be sending it back to my bank account from where it came out in the 1st place. Now my question is do I have to pay taxes? Please any help would be helpful. Thanks

  9. Thank you for all your work that you put into your videos I always look forward watching and seeing you. A lot of people are financially struggling to live, keep a roof over their heads and put food on the table, Anyone who is not investing now is missing a tremendous opportunity."
    Imagine I invested $1000 with a lady you recommended some time ago and got profits of $10,300 through Gabriella Arthur

  10. Question: 1. Do we have to pay capital gain tax on Cryptos as the Tax software says or just entering the trade summary (as we do that with stocks) is enough?

    2. Does the Long-term means 365 days from bought to sold or simply if you bought it last year and sold it this year, qualifies as long term, even though may have bought crypto in Nov and sold in January? Would appreciate if you answer those. Thanks

  11. So this whole year I haven't been trading crypto because the way I understood it you are taxed on the entire amount you sell.
    Even if it's at a loss.. because you can only claim $3,000 in losses.

    Have I really been missing out because of this?!!

    I just really hope you're right.

    Pretty important detail.

    And if this is correct… thank you… Thank you, so very much

  12. When calculating capital gain or loss on the cryptos earned through mining, does the cost basis equal to the market price when the cryptos were mined, or the market price when the cryptos were mined minus the expenses claimed on schedule C? In other words, does the expenses such as computer depreciation, electricity, etc. claimed on Schedule C reduce the cost basis when calculating the capital gain and loss on the mined cryptos?

  13. Great video! So, let me understand this clearly. If I buy crypto on an exchange, and I move those cryptos to a cold storage, that is taxable? Or no?

  14. If I’m currently down 2,000 on unrealized loss is it ok to sell and rebuy at the same price to take that loss?

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