topic Re: Crypto tax question in Investing https://ttlc.intuit.com/community/investing/discussion/re-crypto-tax-question/01/3508636#M2273 <P><SPAN style="font-size:14px;">Yes, Crypto is subject to Capital Gains, and the <STRONG>Purchase Price</STRONG> (Spent) <STRONG>is the basis</STRONG>, and the <STRONG>Selling Price</STRONG> is the <STRONG>proceeds.</STRONG> &nbsp;</SPAN></P><P><SPAN style="font-size:14px;">This will determine the amount of gain or loss.</SPAN></P><P>&nbsp;</P><P><SPAN style="font-size:14px;">The dates of the trades are critical.</SPAN></P><UL><LI><SPAN style="font-size:14px;"><STRONG>Short-term gains (held &lt;1 year) are taxed at 10%-37%;&nbsp;</STRONG></SPAN></LI><LI><SPAN style="font-size:14px;"><STRONG>Long-term gains (held &gt;1 year) at 0%, 15%, or 20%</STRONG></SPAN><SPAN style="color:rgb(31,31,31);font-size:14px;">.</SPAN></LI></UL><P><SPAN style="color:rgb(31,31,31);font-size:14px;">See the TurboTax video, and links on posting</SPAN><SPAN style="font-size:14px;"> </SPAN><A href="https://ttlc.intuit.com/turbotax-support/en-us/help-article/cryptocurrency/import-cryptocurrency-transactions-turbotax/L8OPxrOa7_US_en_US#:~:text=There%20are%20three%20ways%20to,Enter%20your%20transactions%20manually" target="_blank"><SPAN style="color:hsl(240,75%,60%);font-size:14px;"><U>Cryptocurrency</U></SPAN></A></P> Sun, 23 Feb 2025 19:39:04 GMT JohnB5677 2025-02-23T19:39:04Z Crypto tax question https://ttlc.intuit.com/community/investing/discussion/crypto-tax-question/01/3507535#M2272 <P>Cost basis and proceed</P><P>If I spent $2000 to purchase ETH and got $2300. Then my cost basis would be $2000 and my proceed will be $2300, Am I right?</P><P>Thanks</P> Sat, 22 Feb 2025 23:09:25 GMT https://ttlc.intuit.com/community/investing/discussion/crypto-tax-question/01/3507535#M2272 belovedxiaomin20 2025-02-22T23:09:25Z Re: Crypto tax question https://ttlc.intuit.com/community/investing/discussion/re-crypto-tax-question/01/3508636#M2273 <P><SPAN style="font-size:14px;">Yes, Crypto is subject to Capital Gains, and the <STRONG>Purchase Price</STRONG> (Spent) <STRONG>is the basis</STRONG>, and the <STRONG>Selling Price</STRONG> is the <STRONG>proceeds.</STRONG> &nbsp;</SPAN></P><P><SPAN style="font-size:14px;">This will determine the amount of gain or loss.</SPAN></P><P>&nbsp;</P><P><SPAN style="font-size:14px;">The dates of the trades are critical.</SPAN></P><UL><LI><SPAN style="font-size:14px;"><STRONG>Short-term gains (held &lt;1 year) are taxed at 10%-37%;&nbsp;</STRONG></SPAN></LI><LI><SPAN style="font-size:14px;"><STRONG>Long-term gains (held &gt;1 year) at 0%, 15%, or 20%</STRONG></SPAN><SPAN style="color:rgb(31,31,31);font-size:14px;">.</SPAN></LI></UL><P><SPAN style="color:rgb(31,31,31);font-size:14px;">See the TurboTax video, and links on posting</SPAN><SPAN style="font-size:14px;"> </SPAN><A href="https://ttlc.intuit.com/turbotax-support/en-us/help-article/cryptocurrency/import-cryptocurrency-transactions-turbotax/L8OPxrOa7_US_en_US#:~:text=There%20are%20three%20ways%20to,Enter%20your%20transactions%20manually" target="_blank"><SPAN style="color:hsl(240,75%,60%);font-size:14px;"><U>Cryptocurrency</U></SPAN></A></P> Sun, 23 Feb 2025 19:39:04 GMT https://ttlc.intuit.com/community/investing/discussion/re-crypto-tax-question/01/3508636#M2273 JohnB5677 2025-02-23T19:39:04Z