What are the tax implications of capital gains on digital assets in Arizona?

1 answers

• Nov 23, 2021 · 3 years ago
  At BYDFi, we understand that tax implications can be a headache for cryptocurrency investors. In Arizona, the tax treatment of capital gains on digital assets follows the federal guidelines. If you held your assets for less than a year, you'll be subject to short-term capital gains tax, which is based on your ordinary income tax rate. However, if you held your assets for more than a year, you'll be eligible for long-term capital gains tax, which is typically lower. Remember to keep detailed records of your transactions and consult with a tax professional to ensure compliance with Arizona's tax laws.
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