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Skipper6
New Member

If I made 1,000,000 dollars in Bitcoin, what percent should be held back to pay taxes in 2025?

 
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1 Reply
JamesG1
Employee Tax Expert

If I made 1,000,000 dollars in Bitcoin, what percent should be held back to pay taxes in 2025?

It is hard to say without seeing the tax return.  TurboTax Tax Bracket Calculator may be found here.

 

Is the Bitcoin is earned as self-employment income?  If so, then self-employment tax would also have to be considered.

 

If the Bitcoin is earned as capital gains, long-term capital gain rates are more attractive than short-term capital gain rates.

 

Capital gains tax rates may be found here.

 

 

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