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What is the best crypto tax report app for US customers?

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What is the best crypto tax report app for US customers?

The secret to legally avoid crypto taxes in 2021 is to make your way into the lower long-term capital gains tax bracket.

You need to pay attention to your crypto holding period and on your taxable income.

Long-term capital gains grant you access to the following tax rates

  • 0% – Taxable income up to $80.000
  • 15% – Taxable income is $80,000 or more but less than $441,450
  • 20% – Applies to the extent that your taxable income exceeds the thresholds set for the 15%

To qualify for these favorable tax rates, you must hold your crypto investments over a year before selling them.

Also, for the most accurate information, see the capital gains on the IRS webpage. Remember, that those number presented here is for a single household and will be different if you are a married household.

Source: https://www.cryptocointrade.com/crypto-trading-blog/what-is-the-best-crypto-tax-report-app-for-us-customers/

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