#TrumpTaxCuts The Trump tax cuts, part of the Tax Cuts and Jobs Act (TCJA), have implications for cryptocurrency investors. Here's a brief overview [1]:
- *Capital Gains Tax*: The TCJA didn't change capital gains tax rates directly, but tax brackets were adjusted. Long-term capital gains (assets held over a year) are taxed at 0%, 15%, or 20%, depending on income level.
- *Cryptocurrency Taxation*: The IRS treats cryptocurrency as property, subject to capital gains tax. Gains from cryptocurrency sales are taxable, and losses can be deducted.
Consult a tax professional for personalized advice [2].