You could owe 0% capital gains tax for cryptocurrency in 2023. Here's what crypto investors need to know
Publishing timestamp: 2023-11-17 14:15:02
Summary
Cryptocurrency investors who qualify for the 0% long-term capital gains tax rate may consider selling profitable crypto and immediately repurchasing it to take advantage of the "step up in basis" strategy. This strategy allows for smaller future profits if prices continue to climb. Tax gain harvesting is seen as a wiser strategy than tax loss harvesting for those in the 0% bracket. The article also provides information on the income thresholds for the 0% long-term capital gains rate in 2023 and 2024.
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Keywords: bitcoin/usd coinbase, taxes, government taxation and revenue, wealth, breaking news: investing, personal finance, business news, national taxes, bitcoin, personal saving, cryptocurrency, investment strategy, tax planning, bitcoin/usd coin metrics,