Are there any exemptions or deductions for crypto to crypto trades in 2017?

3 answers

• Nov 26, 2021 · 3 years ago
  Yes, there are certain exemptions and deductions that you can claim for crypto to crypto trades in 2017. The IRS treats cryptocurrency as property, so if you experienced a loss on a crypto to crypto trade, you may be able to claim it as a capital loss on your tax return. However, it's important to consult with a tax professional to ensure you meet all the necessary requirements and properly report your trades.
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• Nov 26, 2021 · 3 years ago
  Unfortunately, there are no specific exemptions or deductions for crypto to crypto trades in 2017. The IRS treats cryptocurrency as property, and the tax rules for property transactions apply. This means that any gains or losses from crypto to crypto trades would be subject to capital gains tax. It's important to keep track of your trades and consult with a tax professional to accurately report your transactions and determine your tax liability.
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• Nov 26, 2021 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, there are no exemptions or deductions specifically for crypto to crypto trades in 2017. However, it's important to note that tax regulations may vary by jurisdiction. It's always a good idea to consult with a tax professional or accountant who specializes in cryptocurrency to ensure you are in compliance with the tax laws in your country.
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