Buying crypto on leverage
MoneyWatch: Reporting crypto for taxes. First off, if you used does require U.
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How to Pay Zero Tax on Crypto (Legally)The IRS treats cryptocurrency as property, meaning that when you buy, sell or exchange it, this counts as a taxable event and typically results. You're not taxed when you buy crypto with fiat currency - like USD - in the US. However, it's really important you keep records of your crypto. Buying crypto with cash and holding it: Just buying and owning crypto isn't taxable on its own. The tax is often incurred later on when you sell, and its gains.
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