Crypto Taxes Explained For Beginners | Cryptocurrency Taxes

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ClearValue Tax

ClearValue Tax

Күн бұрын

Пікірлер: 5 000
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Here are links for sites that will convert your crypto trades to IRS Format or integrate with your tax software: Bitcoin Tax: bitcoin.tax/clearvaluetax Crypto Trade: cryptotrader.tax?fpr=46b4e Token Tax: tokentax.co?via=clearvaluetax
@cesarnono13
@cesarnono13 3 жыл бұрын
Brian. Since KuCoin is not KYC and not in USA, are you required to declare it if it's $10k or more?
@closki226
@closki226 3 жыл бұрын
I also need to know. All this tax talk is putting a dampener on my kcs gains 😌
@Karalie-ju9wv
@Karalie-ju9wv 3 жыл бұрын
I’m watching I’m watching In case I need to know someday ! TY ♥️
@J.futch97
@J.futch97 3 жыл бұрын
If you turned this daily 10-minute news briefing format into a podcast I think it would do incredibly well. Reach more people.
@majiqpro
@majiqpro 3 жыл бұрын
Brian what if you transfer your cryptocurrency to a different wallet? That wouldn't be considered taxable income right?
@uberslap1926
@uberslap1926 3 жыл бұрын
7.5 minutes in and you answered everything I need to know in extreme detail....thank you very much for a great video.
@poletiC3
@poletiC3 2 жыл бұрын
Is there a way to make aktiv Profit of crypto taxes, Even if you got NO crypto ?
@TrevorHaun
@TrevorHaun Ай бұрын
The most to the point, non-jabbering content on KZbin. Excellent!
@noworriesman
@noworriesman Ай бұрын
You mean you don't want to hear about trading platforms and links in the description to get 10% off? 😂😂😂
@mattgomez1585
@mattgomez1585 Ай бұрын
Here's a question I don't see answered: Example - let's say I buy 10,000 XRP and hold for 2 years. Then I buy another 5,000 XRP the day after year 2. The next day I sell 5,000 XRP. Am I selling XRP that I've had for 2 years, or am I selling the XRP I just bought? Let's say it's in the same wallet. How do they determine which ones I sold for capital gains?
@pamelasprings6723
@pamelasprings6723 Ай бұрын
@@mattgomez1585 Great question I hope someone replies
@hamzanaveed4585
@hamzanaveed4585 3 жыл бұрын
Bro why can’t everyone be as clear and easy to understand as you?? GREAT VIDEO, GOOD JOB G 🔥
@MrGamecatCanaveral
@MrGamecatCanaveral 3 жыл бұрын
And people still don't understand. Lol
@jwportman
@jwportman Күн бұрын
Bitcoin ₿ crashing is just a reminder that gravity always wins 📉, even in the crypto world 🌍 just as well I cashed out with a new crib in Dubai 🏡🌴🤑
@Glennhairston
@Glennhairston 3 жыл бұрын
Your single take is more informative and better explained than many edited vids thank you.
@vicsvibes
@vicsvibes 3 жыл бұрын
Lol damn... I want videos in 1.75 speed, so I didnt even pickup that this was one take!!! This man deserves to be featured in publications for this video fr.
@camilarodriguez4393
@camilarodriguez4393 3 жыл бұрын
I don’t even watch the news anymore. You are the real deal. Thanks so much! I’ve gotten so many people watching you now!
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you Camila for all your support, I appreciate it so much =)
@realtalk2528
@realtalk2528 8 ай бұрын
So its you hold cryto only, I understand that you don't have to pay taxes on unrealized gains. My question is do still have to report it to the irs?? Is it safe to go years without reporting since your holding crypto only? Or should you still be reporting to the irs regardless of the unrealized gains. Im asking because on the trezor wallet you can buy crypto on it rather than using an exchange...
@d4mdcykey
@d4mdcykey 3 жыл бұрын
One of the most precise, clear, and thorough explanations of crypto tax I have seen, and all without quick edits, ridiculous histrionics, and silly clickbait gimmicks. Very nice job. Immediately subscribed.
@poletiC3
@poletiC3 2 жыл бұрын
Is there a way to make aktiv Profit of crypto taxes, Even if you got NO crypto
@pamelasprings6723
@pamelasprings6723 Ай бұрын
And he did it all in one take
@hymonom
@hymonom 3 жыл бұрын
I’ve learned and retained more from this KZbin channel since the beginning of Covid than I ever did throughout the entirety of my high school education.
@impactproformance
@impactproformance 3 жыл бұрын
Lol
@destineetwilight609
@destineetwilight609 3 жыл бұрын
He’s an excellent teacher.
@PBrooksSawyer
@PBrooksSawyer 3 жыл бұрын
Add college to that.
@blanktintin
@blanktintin 3 жыл бұрын
High school and college are the definition of wasting time. I learn more from a KZbin video than I ever did from any school.
@tenaciouszai6139
@tenaciouszai6139 3 жыл бұрын
Thats cause high school is filled with 90% bullshit. Not pertaining to how to make it in the real world. The 10% being the basics like math, reading, writing, certain science & working out. Gym*. History books tainted doesn’t hold weight. Basically why tf would we want to retain high school knowledge. It’s blasphemy.
@paijittrasantawin5062
@paijittrasantawin5062 21 күн бұрын
Even this video was from 3 years ago but it is still very useful this year 2024 of all crypto investing beginners. Thank you for making this video
@kingming869
@kingming869 3 жыл бұрын
This is the first well explained Crypto tax video I have come across. Without BS and all the fillers and ads.
@LuxeprivaeMedia
@LuxeprivaeMedia 3 жыл бұрын
You may want to request an actual tax regulation rather than assume.
@nelsonrobin7304
@nelsonrobin7304 3 жыл бұрын
I reco_-mmend a good bro-ker
@poletiC3
@poletiC3 2 жыл бұрын
Is there a way to make aktiv Profit of crypto taxes, Even if you got NO crypto
@dg-vg9di
@dg-vg9di Ай бұрын
Get rid of the irs.
@nymetsfan912
@nymetsfan912 3 жыл бұрын
This video should have millions of views n like. You killed it my dude. Great job!
@kvibez03
@kvibez03 Жыл бұрын
This is the most clear cut, thorough video on this topic on KZbin. Thank you sir!
@sammyjones2180
@sammyjones2180 3 жыл бұрын
I said it once and I’ll say it again. THIS MAN IS A F**KIN LEGEND! Appreciate everything you do bro
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
I appreciate that so much Santo Lisanti! Thank you for all your support!
@hammerjoseph6927
@hammerjoseph6927 3 жыл бұрын
@@clearvaluetax9382 I need your help
@dupajas00
@dupajas00 3 жыл бұрын
If I have to pay taxes to IRS for profits IRS should pay me for loses 😂🤣
@VBLN
@VBLN 3 жыл бұрын
You can file if you lost and they won’t tax yoh
@alexanderl7727
@alexanderl7727 3 жыл бұрын
losses are tax deductible
@xyopiRIFx
@xyopiRIFx 3 жыл бұрын
move to singapore or indonesia if you do not want to be taxed
@raymondhernandez8535
@raymondhernandez8535 3 жыл бұрын
They do,it’s a loss and that loss is deducted from the profits.I take losses in order to even out profits
@andreygv
@andreygv 3 жыл бұрын
@@alexanderl7727 only like 3k
@Infamous_wu13
@Infamous_wu13 3 жыл бұрын
Haven’t paid tax on BTC since 2018 HODL
@RedroseProd
@RedroseProd 10 ай бұрын
Ready to sell ?
@curtssallee9807
@curtssallee9807 10 ай бұрын
BTC FOR LIFE.....
@juliamontalvo9717
@juliamontalvo9717 3 жыл бұрын
OMG thank you so much for breaking it down. I'm new to Coinbase and I've been doing research to understand everything. I appreciate you. Subscribed
@closvidal
@closvidal 3 жыл бұрын
This is was really good content. You clarified alot of misconceptions.
@scarpien
@scarpien 2 жыл бұрын
Imagine my shock when I was informed I'd have to pay taxes on my crypto trade profits. I seriously thought it was a scam! LOL But thanks to your clear & concise explanations I now realize how clueless I was about the subject.
@SCREEVER333
@SCREEVER333 10 ай бұрын
I feel so much better now. Thank you. I’m new and I’m hearing slightly different things from different people about this and that but it’s pulling teeth to just get some simple answers. My god. Appreciate it.
@Varlwyll
@Varlwyll 3 жыл бұрын
Step 1: "IRS: "did you buy crypto?" Steo 2: Me: "No" Step 3: HODL
@Elite_Employee
@Elite_Employee 3 жыл бұрын
Step 5: I lost my crypto in a boating accident tax that- a la epic Michael saylor quote 👽
@kobeshaq1320
@kobeshaq1320 3 жыл бұрын
@@LuxeprivaeMedia in lamen terms please
@mrsrabbit2712
@mrsrabbit2712 3 жыл бұрын
@@LuxeprivaeMedia can you simply state the distinction? Thank you.
@414-ForSuch-A-TimeAsThis
@414-ForSuch-A-TimeAsThis 10 ай бұрын
STOP PAYING FEDERAL TAXES!!! WHY DO YOU JUST HAND YOUR MONEY OVER TO THIEVES.
@jamesjameson2244
@jamesjameson2244 9 ай бұрын
More explanation please 🙏
@catfishlol1498
@catfishlol1498 3 жыл бұрын
Dude you're a better journalist than the real journalist out there doing fake news. I like your style of just doing facts news and not just giving opinions
@juanplus3324
@juanplus3324 3 жыл бұрын
Msm made it a norm that their opinions are supposed to be the truth.
@TheJanda777
@TheJanda777 3 жыл бұрын
These are the answers we are looking for! Thanks for taking the time to do this every day.
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you for all your support Matthew!
@essenceofsoul27
@essenceofsoul27 3 жыл бұрын
Still learning about this crypto space before I really dive in and with so many fees for everything, taxes have been on area I was completely clueless about. This video was very simple and easy to understand for those of us not well versed on the topic. Thank you for not using a lot of insider lingo and for teaching for those of us are new to all of this. I'm glad this is the first video I chose when I searched. Liked and I will be checking out some of your others content.
@Jose-rl8gk
@Jose-rl8gk 3 жыл бұрын
When you figure it out. It's gonna be to late..
@CaseyBurnsInvesting
@CaseyBurnsInvesting 3 жыл бұрын
Knowledge of the tax system, how to make yourself rich instead of the government.
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
You got that right Casey!!!
@TheRonnierate
@TheRonnierate 3 жыл бұрын
Acorn did not work for me as a little guy. Acorn made trades I didn’t know about. Maybe I made $10.00. H&R Block charged me $179.00 to fill out the form. My only income is social security. Acorn is an unnecessary hassle for the save your loose change guy. Dump Acorn? I did. I’ll get another 1099 next year.
@sshuriksevo
@sshuriksevo 3 жыл бұрын
@@TheRonnierate if you made less than $600 you don’t have to file it.
@jaredb9523
@jaredb9523 3 жыл бұрын
@@sshuriksevo from trading or just 600 dollars over the year in general?
@helpus2383
@helpus2383 3 жыл бұрын
blockchain thought made it private ? ??
@Thimzohx
@Thimzohx 3 жыл бұрын
Watched the first 2 minutes of the video and immediately knew I needed a cup of coffee to see the whole video. Thanks for this upload, really helpful. Cheers.
@jsj0480
@jsj0480 3 жыл бұрын
Thank you much our friend! Keep it up,we need your honesty!
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
That is so kind of you Peter, thank you for all your support!
@labourlawadvisor7141
@labourlawadvisor7141 3 жыл бұрын
Appreciate your review, do you experience difficulties in trading? Inbox +1...8..5 ..6...2...7 ..2..1..1....4...6
@zaferustuner
@zaferustuner 3 жыл бұрын
A few detail questions, 1- if I am lending crypto and also get interest in crypto, IRS still needs to calculate the interest income in US dollars. How do they make that conversion ? Bitcoin is volatile. Do they calculate that conversion by the exchange's exact conversion rate for the exact point in time I earned interest ? Or does it just do it at the end of the year for whatever rate bitcoin is exchanged for on 31st of december ? 2- Lets say I bought crypto on january 1st , earned interest income and also sold my bitcoin before the end of year. Does it tax me on both the principal and the interest as capital gains ? Or does it tax interest income and sold principal separately? Thank you.
@Adv3r5ity
@Adv3r5ity 3 жыл бұрын
Brian, I admit since the stimulus is over I have been guilty of not watching your videos for awhile, but I definitely watched this one. Keep up the good work!
@rivercity7808
@rivercity7808 3 жыл бұрын
@ClearValue TAx is a SCAMMER and is the same SCAMMER Who is in every crypto comment section on youtube under many diff names . 🙄 SCAM ALERT! SCAM ALERT! SCAM ALERT! SCAM ALERT! SCAM ALERT! 🙄
@trustmebronocap
@trustmebronocap 3 жыл бұрын
Short term = paying at regular price (taxes) Long term = paying with a discount (thank you for holding, here is a coupon)
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Well summarized!
@TheAgentmigs
@TheAgentmigs 3 жыл бұрын
Thanks for distilling that down!!
@kshitiz06
@kshitiz06 3 жыл бұрын
Biden is trying to change that. If long term gains are taxed at 39.6% (which is what he is proposing as the highest bracket for long term capital gain taxes), you might as well consider it equal of short term tax
@trustmebronocap
@trustmebronocap 3 жыл бұрын
@@kshitiz06 good
@philossifer6252
@philossifer6252 3 жыл бұрын
@@trustmebronocap , sarcasm maybe?
@MaydaysCustomWoodworks
@MaydaysCustomWoodworks 3 жыл бұрын
Brian is the best. It is now part of my daily routine to watch the news from Brian.
@joeygee11
@joeygee11 Ай бұрын
Don’t sell… no taxes
@JimmyJaxJellyStax
@JimmyJaxJellyStax 3 жыл бұрын
Really enjoy this presentation style - very informative and easy to follow!
@JimmyJaxJellyStax
@JimmyJaxJellyStax 3 жыл бұрын
@Clearvalue Tax Scam, different username (lowercase V)
@kapkoder4009
@kapkoder4009 2 жыл бұрын
Bro you do an amazing job at explaining things your an incredible teacher!
@suloandvaliseitaj3623
@suloandvaliseitaj3623 3 жыл бұрын
Very smart and Clear video even for people that do not work in a business field. Very professional look and explanation. Very helpful video Thank you very much
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Glad it was helpful! Thank you so much for all your support Sulo and Vali!
@NatureLovingIntellectual
@NatureLovingIntellectual 10 ай бұрын
I have no relationship with the IRS. I am tax exempt. Great video anyway.
@pauldtaeza
@pauldtaeza 3 жыл бұрын
This is a goldmine of information. This is amazing, please keep it up!
@masha609
@masha609 2 жыл бұрын
Thank you very much for your very detailed and informative video, I wonder if you can help me with the answer to the next question: How is managed the FIFO rule in taxes when you have more than one wallet and in each one, you have the same crypto, but with a very big different cost basis, and you sold the one with higher cost (Wallet 2), the profit/loss is calculated base on the wallet or a big pool that would take the oldest one to do the tax calculation Wallet 1 BUY 1 BTC At $15,000 acquired on Aug/2019 Wallet 2 BUY 1 BTC At $50,000 acquired on Jan/2021 Wallet 2 SOLD 1 BTC At $85,000 on Nov/2021 Using the wallet would be a profit of $35,000, but if it’s by the pool (FIFO RULE) would be $70,000 Thanks in advance for your time and help!
@weegeerblx8934
@weegeerblx8934 3 жыл бұрын
Thanks for being consistent man
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you for being AWESOME WeegeeRBLX!
@jdnny7616
@jdnny7616 7 ай бұрын
You are the best Brian, you answered all the questions I have on crypto taxes. Question # 6: answered all my questions.
@sadyyasmina4710
@sadyyasmina4710 3 жыл бұрын
This country is crazy but when you have someone you can count on is so much helpful...Brian you are the guy we all relying on 👌🏿👊🏿👌🏿
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you Sady for all your support and that generous comment, you are awesome!
@sadyyasmina4710
@sadyyasmina4710 3 жыл бұрын
@@clearvaluetax9382 this is going to be my lucky month he replied to me👌🏿🤩 you are the best friend 👊🏿
@aaronpatterson4939
@aaronpatterson4939 3 жыл бұрын
Facts
@jasonsimpson1397
@jasonsimpson1397 3 жыл бұрын
@@victordaniel3239 People need to report this account. Don't fall for the scam; this is obviously NOT Brian.
@kid_kulafu_1727
@kid_kulafu_1727 3 жыл бұрын
This guy never miss man. Thank you so much.
@kid_kulafu_1727
@kid_kulafu_1727 3 жыл бұрын
@Paul Paul relax. This ain’t it.
@liammalone6304
@liammalone6304 3 жыл бұрын
I just started investing last month and you answered questions I had and questions I didn't know I had very crystal clear. I would love more of these videos. The video didn't even feel long I was just a sponge absorbing everything. I liked and subscribed 👍
@TLCvwa
@TLCvwa Ай бұрын
Dam, you answered one of my questions!!! I thought if I sold crypto (profits) and put the money in a money market account within my brokerage account, that I wouldn’t be taxed WOW it’s taxable. THANKS!!!!!!
@creamyspinach8951
@creamyspinach8951 3 жыл бұрын
great video holding my stocks and crypto for a year since i got in early on them lol and i make less then 20k a year while being up 20k in a coin
@saradiaz9914
@saradiaz9914 3 жыл бұрын
What do you invest in
@pwat7254
@pwat7254 3 жыл бұрын
Thanks Brian! Now this is another reason why it's best to Hodl trades long-term!
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
HODL! Happy investing PWAT!
@robertgallegos6414
@robertgallegos6414 3 жыл бұрын
wow thanks man! this was easy to follow. i swear this has prevented some future panic attacks with your simple explanations. definitely giving you a follow!
@poletiC3
@poletiC3 2 жыл бұрын
Is there a way to make aktiv Profit of crypto taxes, Even if you got NO crypto
@LOADING...o.o.o
@LOADING...o.o.o 2 жыл бұрын
Your Q&A style video is gold. I love it. GOooooood job.
@lemoncrypto6758
@lemoncrypto6758 2 жыл бұрын
Feedback appreciated.👆 Wanting more info and insight? WatsApp the numbr above Endeavor to reach out!!!.....
@davidcornell4463
@davidcornell4463 3 жыл бұрын
So don't farm your crypto. Just HODL and buy the drops. That's what I'm doing now after I tried farming Dogecoin and Bitcoin and lost money. So avoid transaction fees and tax, just hold.
@projectlifemastery4266
@projectlifemastery4266 3 жыл бұрын
Thta's nice, but I have some who you can invest with for good profit without ta and loss, , his fee is 2% of your profit, he is really good at this.
@projectlifemastery4266
@projectlifemastery4266 3 жыл бұрын
{•+•1•8•0•2•2•8•7•6•5•3•9™} {@W===app:}
@dannyjohnson6231
@dannyjohnson6231 3 жыл бұрын
You are great, sir. You are always clear and to the point. Thank you for all you do.
@vuven8930
@vuven8930 3 жыл бұрын
I love the shout-out to ripple/xrp! When ya know, ya know.
@niteowl9733
@niteowl9733 Ай бұрын
I forgot how much i appreciate your videos. It's been a while!
@gryoz1323
@gryoz1323 3 жыл бұрын
Liked and favorited for next years tax season, thanks Brian.
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you Enrique for all your support!
@Mike24Black
@Mike24Black 3 жыл бұрын
Informative, accurate and easy to understand.! Thank you for taking time to do this!
@waltonwinning2674
@waltonwinning2674 3 жыл бұрын
Back at it again with useful information!!! Love the daily videos, keep it up man!
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you Walton Winning for all your support and that kind comment, you just made my day!
@Awilliamspsyd
@Awilliamspsyd 2 жыл бұрын
Thanks so much! New crypto invester and you answered most of my tax related questions.
@jontsunami1667
@jontsunami1667 3 жыл бұрын
Your videos are so helpful and valuable bro, thank you so much! Your channel has legit taught me a lot about the financial world that I never knew before.
@djpeak10
@djpeak10 3 жыл бұрын
Fantastic video my man! Very, very helpful. Thanks again!!!
@WizDomCast
@WizDomCast 3 жыл бұрын
Appreciate this video a lot! Sending it to all my family members and friends to keep them informed!
@pinktrover
@pinktrover 2 жыл бұрын
This video is incredibly well made. Props
@williamspatricia1003
@williamspatricia1003 3 жыл бұрын
I'm actually tired of working about stocks...it's driving me nuts these days, I think crypto investment is far better than stock..
@terrywilson8608
@terrywilson8608 3 жыл бұрын
Trading crypto has been a lucrative way of making money
@matthewmichelle1293
@matthewmichelle1293 3 жыл бұрын
Stocks are good but crypto is more profitable
@heathbennettbmazda
@heathbennettbmazda 3 жыл бұрын
THANK YOU this is what I’ve been waiting for. KuCoin going crazy huh?
@shannonmichael74
@shannonmichael74 3 жыл бұрын
I invested in kucoin and know nothing about how to use the site 😂😂😂
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
@@shannonmichael74 Congrats! I would take some profits off the table!
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
KCS going ballistic.
@shannonmichael74
@shannonmichael74 3 жыл бұрын
@@clearvaluetax9382 how do I do that?
@closki226
@closki226 3 жыл бұрын
Yes I bought that last summer after watching his videos 🙌🙌 I don’t like this tax talk though
@beckyjohn5602
@beckyjohn5602 3 жыл бұрын
I have been watching some videos and I was thinking about investing, but still don't know where to start from
@stellajohnson4646
@stellajohnson4646 3 жыл бұрын
it's strange how people talk about all the profits, they've been making through trading of bitcoin, while am here not making any profit at all. please can someone put me through on the right path.
@thomasdamien2323
@thomasdamien2323 3 жыл бұрын
I want to start too but I don't know how..
@samatafrank5339
@samatafrank5339 3 жыл бұрын
that's true most people today have been having a lot of failures in forex and crypto sector because of poor orientation and bad experts
@geraldclarke729
@geraldclarke729 3 жыл бұрын
most people are scared because of the chance of loss incurred while trading
@Joelgarcia47
@Joelgarcia47 3 жыл бұрын
the fruitfulness of your trading lies on the account manager or the expert
@norberthm.5171
@norberthm.5171 2 жыл бұрын
Best video about taxes so far. Thank you man!
@elijahgarcia386
@elijahgarcia386 3 жыл бұрын
Amazing video. I use to watch you for stimulus updates but stopped when they were over. You should keep doing some crypto advice videos, most people know very little.
@bluelighter8er
@bluelighter8er 3 жыл бұрын
Agree
@jacen911
@jacen911 3 жыл бұрын
Dude the loss thing just saved me so god damn much money. I love you so much.
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
AWESOME! I am so happy to hear that Jon, happy investing!
@brunochavez2371
@brunochavez2371 3 жыл бұрын
Government always double dipping! If we are all buying crypto with our after taxes money and selling for a profit we shouldn't pay taxes on the gains. Basically taxing the transfer of money from one person to another! It should be a crime! We the people should rise up for change!
@PBrooksSawyer
@PBrooksSawyer 3 жыл бұрын
It's literal robbery.
@discipledesigned
@discipledesigned 3 жыл бұрын
r/cryptocurrencytax , r/cryptotaxevasion
@Lovekrista_
@Lovekrista_ 3 жыл бұрын
Agreed
@ItchyBurrito
@ItchyBurrito 3 жыл бұрын
You said it brother! Just like cars and everything else they tax it every time it changes hands when it should only be taxed once at it's original sale. Not to mention with currency going digital pretty soon we will be paying taxes on every hand to hand sale...even a yard/garage sale. Let that sink in! Time for the tea to get thrown into the harbor again!
@jamestaylor2001
@jamestaylor2001 3 жыл бұрын
You can say that about every investment, not just crypto. But yea
@tyeishaparris27
@tyeishaparris27 2 жыл бұрын
You're awesome and precise. A very clear understanding of how to report Crypto to the IRS. You gained a subscriber. On to the next video. Thank you so much
@joaopereira1695
@joaopereira1695 3 жыл бұрын
What if you swap coins. So instead of "selling" your coin to USDC you swap them to a different alt coin. Would you take the USD equivalent?
@mad8475
@mad8475 3 жыл бұрын
Yes this question, especially in regard to using stable coins for payments
@eazeee711
@eazeee711 3 жыл бұрын
Need answers just asked the same question
@mrkreyhimself
@mrkreyhimself 3 жыл бұрын
That's my question too
@alfredogonzalez9420
@alfredogonzalez9420 3 жыл бұрын
The IRS does not care about the coin, the simple act of selling triggers an event with two coins that can be measured in dollars
@shadowx9398
@shadowx9398 3 жыл бұрын
This is very useful info Brian. I am aware of the tax side of it. This much I didn’t know. Kudos to you for teaching this online. Well appreciated my guy! 👍🏾💯
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you for all your support Shadow X! I appreciate it so much!
@jeffreyyu2624
@jeffreyyu2624 3 жыл бұрын
Really good info on the basics, didn't know about the tax difference between long and short trades.
@GotActionSports
@GotActionSports Ай бұрын
You gained a new subscriber today. Your videos are amazing. Thanks for all you do my man
@misstaylor1492
@misstaylor1492 3 жыл бұрын
Happy Saturday, I hope everyone is safe! Better days are on the horizon
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you for that comment Miss Taylor, I hope you have a very nice weekend!
@qrunsel8574
@qrunsel8574 3 жыл бұрын
If i been buying for years, now I decide to sell a little, how will i be taxed on it. Will I be taxed on the BTC I just bought yesterday, or will I be taxed on the ones I bought years ago?
@ericliddell6579
@ericliddell6579 3 жыл бұрын
I’m pretty sure you can file your taxes in either format. FIFO or LIFO. First in first out or last in first out. Your best idea is to probably do FIFO so that you only incur long term capital gains tax.
@topdad8527
@topdad8527 3 жыл бұрын
Will always recommend you 💯👍
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you Abren, I appreciate that very much!
@dohc1974
@dohc1974 3 жыл бұрын
@@clearvaluetax9382 a question you did not answer or get a chance, what about rolling your crypto currency coin into another crypto currency. During this process you are not converting to dollar’s
@ronaldvann6998
@ronaldvann6998 Жыл бұрын
Your 1 take was just fine. It connected. I appreciate your teaching style.
@jhenriquez23
@jhenriquez23 3 жыл бұрын
Wow Brian thank you for this information. I just began trading in crypto a month ago and had no idea about how taxes work. I appreciate you putting this information out there for me to use. You’re the GOAT 🐐
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you for that GOTA comment and emoji and I appreciate all your support very much JHENRIQUEZ23!
@charlespatterson8412
@charlespatterson8412 3 жыл бұрын
@@clearvaluetax9382 I notice when the person who puts out videos and monitors the comments (Like yourself), they're less plagued by imposters, posers and con artists than most video posters. "Great job!"
@jacksonroman1621
@jacksonroman1621 Жыл бұрын
"From my perspective, this highlights the importance of having a competitive advantage as investors. Merely mirroring the market strategies of others is insufficient in achieving optimal results. I am currently grappling with the decision to invest in the current market, as it presents both uncertainty and opportunity. Could you share your insights on this matter?,
@stjepanhauser7595
@stjepanhauser7595 Жыл бұрын
Indeed, the recent market downturn serves as evidence that a vast majority of individuals lacked a sufficient understanding of the underlying financial dynamics at play.
@mathebulamkhize876
@mathebulamkhize876 Жыл бұрын
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 850k within 2years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.,
@mathebulamkhize876
@mathebulamkhize876 Жыл бұрын
My advisor "NOLAN VELDEN BRENT" is highly qualified and experienced in the financial market. he has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching his credentials further. he has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@marijane1332
@marijane1332 3 жыл бұрын
Thank you for giving us such useful information all the time. 🙌🏼🙌🏼
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Hey Mari Jane! That is so kind of you! Thank you so much for all your support, I appreciate it so much!
@labourlawadvisor7141
@labourlawadvisor7141 3 жыл бұрын
Appreciate your review, do you experience difficulties in trading? Inbox +1...8..5 ..6...2...7 ..2..1..1....4...6
@christopher2932
@christopher2932 2 жыл бұрын
You didn’t butcher the end. You’re awesome bro. Subscribed. Thanks for the great info.
@RavenUltra
@RavenUltra 3 жыл бұрын
More stock market content would be awsome thank u. Glad i subbed
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Will definitely do Scottie DoubleAlpha! Thank you for all your support!
@JohnT.Middleton-m7z
@JohnT.Middleton-m7z Ай бұрын
This time last year I considered crypto without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. I got into the market with 15k, One year and a couple of months in, and I’m up with 550k. I truly cannot stress enough how helpful experts in this field are!
@user-xs4wj8rn3w
@user-xs4wj8rn3w Ай бұрын
Trading success always depends on applying the right trade signals to your trade....
@Beaulynton
@Beaulynton Ай бұрын
I want to start investing but need guidance on how to invest, any help or advice for assistance please?
@JasmineMcDonnaldd
@JasmineMcDonnaldd Ай бұрын
It is good to seek expert guidance before venturing into trading to avoid losses.....
@ArthurM.Crawford
@ArthurM.Crawford Ай бұрын
How can someone know a professional account manager that is trustworthy now it is very hard to find this days.
@Hamishweindorfer
@Hamishweindorfer Ай бұрын
Sincerely speaking. I will continue to trade and stick to Evan Dannis daily signals and guides as long as it works well for me.
@irismorales2286
@irismorales2286 3 жыл бұрын
I like that you mentioned the differ, since I used to work for real state and sold 30+ properties; HUD homes, VA, ect.😊
@buffalo_bandit8064
@buffalo_bandit8064 2 жыл бұрын
Your videos are second to none! You are the man thank you for the knowledge. Best wishes on your endeavors.. keep up the great work!
@harleyrebecca2677
@harleyrebecca2677 3 жыл бұрын
The world is changing! I'm glad to be part of that. The crypto has made so many millionaires already. It is the evolution of money. Thanks for making this informative video I just subbed 👌
@jeremybull3735
@jeremybull3735 3 жыл бұрын
Cool, sounds like you've got so much money from crypto. I 'm new around here
@harleyrebecca2677
@harleyrebecca2677 3 жыл бұрын
@@jeremybull3735 Yeah, I 've made a lot! Investing, holding and trading crypto has been my best decision ever
@melvinjohnreacher9566
@melvinjohnreacher9566 3 жыл бұрын
Crypto is the way to go🎯🚀
@jeremybull3735
@jeremybull3735 3 жыл бұрын
@@harleyrebecca2677that really sounds good. How do you go about taxes?
@harleyrebecca2677
@harleyrebecca2677 3 жыл бұрын
@@jeremybull3735 First I thought of moving out of the US that can't be feasible atm but I 've made my gains with the help of a financial consultant and its been easy peasy making money on investment. I' ve built a good retirement portfolio and passive income.
@howimade3309
@howimade3309 3 жыл бұрын
brian is godly at this! ty
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
TY How I Made! I appreciate all your support very much!
@dhollis412
@dhollis412 3 жыл бұрын
@@clearvaluetax9382 Please respond back when you have a chance
@leo6913
@leo6913 3 жыл бұрын
Super informative and easily understood. Thank you for your time. And don’t worry about the mess up at then end. You’re worth your weight in gold 😎
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Haha thanks for that Leo, and thank you so much for all your support! I appreciate it so much!
@goutfromfriedokra3936
@goutfromfriedokra3936 2 жыл бұрын
@@clearvaluetax9382 hi sir, if I had gains in 2021, but can't pay the tax off those gains, can I pay in installments to the IRS over years or I need to pay whole?
@JasonRussoMetal
@JasonRussoMetal 13 күн бұрын
This was great!! Simple and easy to understand. Thank you!
@JamesOsyris
@JamesOsyris 3 жыл бұрын
Give this man a sub
@SpecialMagnets
@SpecialMagnets 3 жыл бұрын
Huge thumbs up love your channel ❤️👍
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you Special Magnets! I appreciate your support very much =)
@SpecialMagnets
@SpecialMagnets 3 жыл бұрын
@@clearvaluetax9382 thanks for your reply and valuable time. 👍
@ScreamoYT
@ScreamoYT 3 жыл бұрын
6:25 i know its not in the context you mean, but hearing you casually say "as little as 10%" i can just feel all the falling knives i tried catching for the year stabbing me
@nelsonrobin7304
@nelsonrobin7304 3 жыл бұрын
I recom-mend a good bro-ker,she is good in guid-ance and in-ves-tment,she has been so good to so many pple
@miguelcg25
@miguelcg25 2 жыл бұрын
We love the way that you explain my children n myself 8 n 6 are able to understand everything thank you so much
@NoOne-sc1ox
@NoOne-sc1ox 3 жыл бұрын
Wow this was extremely informational, I appreciate the hard work you put into the video breaking things down. 👍
@h8tingit
@h8tingit 3 жыл бұрын
Thank you, it was just what I needed.
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Thank you h8tingit! I'm glad to hear it is useful =)
@wilfredvasquez5908
@wilfredvasquez5908 10 ай бұрын
Great video! very well explained. Thank you so much.!!
@jasonburkeybile6226
@jasonburkeybile6226 2 жыл бұрын
So are these new tax laws effective immediately when you trade on a US exchange or do they take effect in 2024 like you mentioned in another video?
@WilliamWeyes
@WilliamWeyes 3 жыл бұрын
I feel smarter after watching this.
@ahjareyn
@ahjareyn 3 жыл бұрын
Thank you for explaining everything so simply. It was very helpful.
@poletiC3
@poletiC3 2 жыл бұрын
Is there a way to make aktiv Profit of crypto taxes, Even if you got NO crypto
@cdtimmin
@cdtimmin Ай бұрын
I think you need an updated video on this subject! Thanks
@pouterbuttercup9665
@pouterbuttercup9665 3 жыл бұрын
Thanks for kucoin heads up last year.
@clearvaluetax9382
@clearvaluetax9382 3 жыл бұрын
Go go Kucoin! Thank you for that comment PouterButtercup, hope you got some KCS!
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