How much crypto do you have to report on taxes

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CRYPTO TAX LAWYER Explains: How to LEGALLY Avoid Crypto Taxes
If you earn $ or more in a year paid by an exchange, including Coinbase, the exchange is required to report these payments to the IRS as �other income� via. On your tax return for that year, you should report $ of ordinary income (either as wages if reported on a W-2 or as self-employment income. Depending on your overall taxable income, that would be 0%, 15%, or 20% for the tax year. In this way, crypto taxes work similarly to taxes on other assets.

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Pay for TurboTax out of your federal refund or state refund if applicable : Individual taxes only. This product feature is only available after you finish and file in a self-employed TurboTax product. Cryptocurrency brokers�generally crypto exchanges�will be required to issue forms to their clients for tax year to be filed in Tax consequences don't result until you decide to sell or exchange the cryptocurrency.