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If I have over $2,500 in Bitcoin transactions through CashApp, would taxes be owed to me?

CashApp charges a certain amount to buy Bitcoin (less than $1), as well as withdraw BTC (approximately $2-$5) per withdraw.
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3 Replies

If I have over $2,500 in Bitcoin transactions through CashApp, would taxes be owed to me?

The sale of Bitcoins is reportable as gain or loss on the sale of a capital asset. form 8949, schedule D 

 

If I have over $2,500 in Bitcoin transactions through CashApp, would taxes be owed to me?

Sorry but that doesn't really answer my question.

If I have over $2,500 in Bitcoin transactions through CashApp, would taxes be owed to me?

You are owed a refund when you paid more taxes than the amount that you owe.  It is based on your income and the amount that you have withheld or pay yourself during the year.  Any gain from Bitcoin is taxable.  

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