What are the tax implications of investing in digital assets on eTrade?

1 answers

• Dec 22, 2021 · 3 years ago
  As a representative of BYDFi, I can provide some insights into the tax implications of investing in digital assets on eTrade. When you invest in digital assets on eTrade, you need to be aware of the potential tax consequences. The IRS treats digital assets as property, and any gains or losses from buying, selling, or trading digital assets are subject to capital gains tax. The tax rate will depend on your income level and how long you hold the assets. It's important to keep track of your transactions and consult with a tax professional to ensure you are compliant with tax laws and maximize your tax benefits.
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