Our team at BearTax has put together this presentation to help traders and investors understand the basics of accounting and taxation of cryptocurrency. For more questions & discussions, join our telegram group https://t.me/beartax and visit out website https://bear.tax
Feel free to share around. Link us if you make a copy of it in your presentation.
https://youtu.be/IgETqC3aCpk 1 hour training here
Andrew Gordon, JD/CPA explains accounting and tax issues for cryptocurrency investments.
Discussion of bitcoin, LIFO/FIFO, 1031, Schedule D, Form 8949, FACTA, Fincen 114, Tax Loss Harvesting, Bitcoin IRA, Charity, Gift, Lost/Stolen, and in depth examples.
https://www.gordonlawltd.com/
https://www.zenledger.io/
https://youtu.be/IgETqC3aCpk 1 hour training here
Andrew Gordon, JD/CPA explains accounting and tax issues for cryptocurrency investments.
Discussion of bitcoin, LIFO/FIFO, 1031, Schedule D, Form 8949, FACTA, Fincen 114, Tax Loss Harvesting, Bitcoin IRA, Charity, Gift, Lost/Stolen, and in depth examples.
https://www.gordonlawltd.com/
https://www.zenledger.io/
The IRS tax form for 2020 will ask if you bought, sold, or had any financial interest in any virtual currency. You will need to answer yes or no. The precise language on Form 1040 will be this:
At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?
https://youtu.be/ZKQ39E6S6FM
The document discusses the IRS's guidance on the tax treatment of bitcoin and other virtual currencies. Some key points:
- The IRS treats virtual currency as property, so general tax rules for property transactions apply. This means mining or receiving bitcoin as income requires reporting the fair market value as gross income. Selling or exchanging bitcoin triggers capital gains/losses taxes.
- Tax treatment depends on how the bitcoin was acquired. Purchasing has no tax consequences until sale. Mining requires reporting fair market value as income. Receiving bitcoin for goods/services also requires reporting fair market value as income.
- Record keeping for transactions is important to determine cost basis and calculate capital gains/losses. Form 8949 is
Cryptocurrencies through the lens of commercial law and tax lawEmilyBroadbent1
Want to know more about cryptocurrencies? How about blockchain ledger technology and why it matters? Are there tax considerations that should be taken into account when dealing with bitcoin?
Find the answers to these questions and more with this comprehensive slide deck from a presentation given by Murray Plumb & Murray attorneys Andrew Helman and Chris Branson.
Erez Eyal Eng engaged in cryptocurrency trading in 2013. A report was prepared summarizing the profit and loss from these trades along with Form 1099 reporting. The report was based on analysis of data provided by Erez and public price data. It is intended solely for Erez and his accountant. The report calculates profit/loss using the FIFO costing method accepted by the Israel Tax Authority. Form 1399 is attached providing transaction details to report capital gains from cryptocurrency activities as required.
Our team at BearTax has put together this presentation to help traders and investors understand the basics of accounting and taxation of cryptocurrency. For more questions & discussions, join our telegram group https://t.me/beartax and visit out website https://bear.tax
Feel free to share around. Link us if you make a copy of it in your presentation.
https://youtu.be/IgETqC3aCpk 1 hour training here
Andrew Gordon, JD/CPA explains accounting and tax issues for cryptocurrency investments.
Discussion of bitcoin, LIFO/FIFO, 1031, Schedule D, Form 8949, FACTA, Fincen 114, Tax Loss Harvesting, Bitcoin IRA, Charity, Gift, Lost/Stolen, and in depth examples.
https://www.gordonlawltd.com/
https://www.zenledger.io/
https://youtu.be/IgETqC3aCpk 1 hour training here
Andrew Gordon, JD/CPA explains accounting and tax issues for cryptocurrency investments.
Discussion of bitcoin, LIFO/FIFO, 1031, Schedule D, Form 8949, FACTA, Fincen 114, Tax Loss Harvesting, Bitcoin IRA, Charity, Gift, Lost/Stolen, and in depth examples.
https://www.gordonlawltd.com/
https://www.zenledger.io/
The IRS tax form for 2020 will ask if you bought, sold, or had any financial interest in any virtual currency. You will need to answer yes or no. The precise language on Form 1040 will be this:
At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?
https://youtu.be/ZKQ39E6S6FM
The document discusses the IRS's guidance on the tax treatment of bitcoin and other virtual currencies. Some key points:
- The IRS treats virtual currency as property, so general tax rules for property transactions apply. This means mining or receiving bitcoin as income requires reporting the fair market value as gross income. Selling or exchanging bitcoin triggers capital gains/losses taxes.
- Tax treatment depends on how the bitcoin was acquired. Purchasing has no tax consequences until sale. Mining requires reporting fair market value as income. Receiving bitcoin for goods/services also requires reporting fair market value as income.
- Record keeping for transactions is important to determine cost basis and calculate capital gains/losses. Form 8949 is
Cryptocurrencies through the lens of commercial law and tax lawEmilyBroadbent1
Want to know more about cryptocurrencies? How about blockchain ledger technology and why it matters? Are there tax considerations that should be taken into account when dealing with bitcoin?
Find the answers to these questions and more with this comprehensive slide deck from a presentation given by Murray Plumb & Murray attorneys Andrew Helman and Chris Branson.
Erez Eyal Eng engaged in cryptocurrency trading in 2013. A report was prepared summarizing the profit and loss from these trades along with Form 1099 reporting. The report was based on analysis of data provided by Erez and public price data. It is intended solely for Erez and his accountant. The report calculates profit/loss using the FIFO costing method accepted by the Israel Tax Authority. Form 1399 is attached providing transaction details to report capital gains from cryptocurrency activities as required.
The document summarizes a presentation on cryptocurrency and IRS tax enforcement. It discusses various means of obtaining cryptocurrency, current IRS guidance, and unresolved tax issues. It also covers potential disclosure requirements, civil examination considerations, criminal investigations, and using voluntary disclosures to come into compliance. Attendees are warned that IRS cryptocurrency enforcement is increasing and advised to ensure proper tax reporting and record keeping of cryptocurrency transactions.
Learn more about Government Initiatives and Reporting Requirements surrounding the response to the growth of cryptocurrency markets. watch our full webinar on the topic at web address to learn more about the topic
As cryptocurrencies become entrenched in the investment world, central banks and others are looking at cryptocurrency investment regulation. The question is, is a cryptocurrency a security, a commodity, or a currency. A major issue for cryptocurrency investment regulation is how to trade bitcoin and others. Are they securities, commodities, or currencies?
https://youtu.be/CROU22FDxGE
The popularity of cryptocurrency has been on the rise for years. But 2020 has been a very special year with many more retail investors getting exposure to bitcoin during the COVID-19 lockdown, public companies beefing up their bitcoin holdings, and major fintech companies like PayPal introducing cryptocurrency products. This makes it a great time to look into the 2021 year and discuss what we can expect in the crypto tax space.
This document provides information about bitcoinex, a company that offers opportunities related to cryptocurrencies like bitcoin. It discusses what bitcoinex does, including providing education on cryptocoins and how to use them. It also summarizes what bitcoin is, why it should be used, and its benefits like low fees, privacy, and global accessibility. The document outlines bitcoinex's marketing plan and membership options. It details the company's trading performance and bonuses paid for recruiting others and trading volume. In the end, it emphasizes the company's values like real monetary value and instant payouts.
This document describes the services of an online financial advisor called FinMart that is part of The Financial Supermarket group. It specifically promotes a leave encashment calculator that allows users to calculate the taxable and non-taxable portions of leave encashment. The summary provides step-by-step instructions for using the calculator by visiting FinMart's website and selecting the calculator section.
Tradewin.Online has successfully completed a SOC 2 Type 2 audit by Deloitte, demonstrating a high level of security and data protection. This makes it the first electronic money manager to pass this compliance standard. The company also maintains commercial crime insurance greater than the value of digital assets held on the platform. It aims to provide investors with the same level of protection as traditional financial institutions through these security measures and insurance.
Find out innovative cryptocurrency business revenue models 2020 that use immutable blockchain technologies that are ready to challenge regular business models. Different types of cryptocurrency revenue models which includes crypto coin creation, cryptocurrency exchange development, cryptocurrency wallet development, smart contract development, stable coin development and more...
https://www.developcoins.com/cryptocurrency-revenue-model-2020
To calculate cryptocurrency taxes, you must first consolidate all trades from exchanges into one place and match sell transactions with buy transactions using the first-in first-out method to determine gains or losses. You must also link any wallets for mining transactions or generated coins sold during the tax year, and properly account for any transfers between exchanges. Once gains and losses are determined, the details must be added to the necessary tax forms.
Ripple Trade is a company that trades cryptocurrencies like Ripple and Bitcoin to generate profits for investors. It offers investment packages with daily returns of 1% for 300 days. Investors can deposit funds using cryptocurrencies or cash and earn returns that can be withdrawn on a weekly basis. The company aims to develop its own exchange, wallets, and payment systems to conduct trading operations and share profits with members.
every people want to invest money in different financial product like pf,fd,rd,sba. insurance ,mutual fund, bond ,debt,govt. securities and maximise wealth of money but all people are not aware about option trading strategy help you appreciate your investment amount. all tax payer want to save tax when fill itr .this file help you aware about deduction income tax
A presentation on AML & CFT Risks and Opportunities delivered at the Gibraltar Association of Compliance Officers Blockchain & DLT Event on 17 October 2018.
This presentation covers different industry players; what obligations those industry players may have; how to meet those compliance obligations; other key risks and the future of compliance in the cryptocurrency and DLT sector.
Best Trading is offering an investment platform which uses AI-based software which will automatically do trading by analysing the market scenario. From providing clients unlimited investment opportunities via various cryptocurrencies to combining Artificial Intelligence in a decentralised platform, this company offers a secure and stable base to an investor for conducting cryptocurrency investment. Best Trading CC Limited, a decentralised platform for cryptocurrency investment, is introducing AI-based software on their website besttrading.cc. Addressing the common issues faced by this procedure of cryptocurrency trading, the company is using AI to facilitate a secure & profitable investment platform for investors.
DEXPOOLS is a decentralized, peer to peer (P2P) OTC DeFi platform. Individual buyers and sellers are able to create trade offers bound to specific wallets and execute a trade via smart contracts. There is no need for an escrow custodian or any trusted third party in the process. Both buyers and sellers can set up swaps with literally zero slippage or impact on low liquidity markets. The only cost to use the platform is a low transaction fee for both trading parties vs the high slippage seen on most DEXs which can at times exceed 20-30%.
Vunani Private Clients introduction to copy trade, original videos available at Zulutrade http://www.youtube.com/watch?v=G3gV4Z3NWgQ and Currensee http://www.youtube.com/watch?feature=player_embedded&v=PEbtYEqkeW4
Vunani Private Clients introduction to copy trade, original videos available at Zulutrade http://www.youtube.com/watch?feature=player_embedded&v=PEbtYEqkeW4 and Currensee http://www.youtube.com/watch?feature=player_embedded&v=PEbtYEqkeW4
How a newbie can start learning cryptocurrency trading Blockchain Council
So, you've finally decided to begin your cryptocurrency trading career, and you're already dreaming how you'll spend your millions? There's no denying that cryptocurrency is an exciting market for investors, but success isn't always as straightforward.
Investment advisors use the word outperform to describe how Bitcoin and altcoins Solana and Cardano have been doing. This is a way of saying that an investment is doing well while withholding judgment as to why, how, or any future performance. It does give any in terms of when to buy and when to sell Bitcoin.
https://youtu.be/OLMY91gzTHc
The rewards of using investment leverage can be impressive. However, the dangers of investment leverage are such that one needs to proceed with caution.
https://youtu.be/1c43BKp4PPY
The document summarizes a presentation on cryptocurrency and IRS tax enforcement. It discusses various means of obtaining cryptocurrency, current IRS guidance, and unresolved tax issues. It also covers potential disclosure requirements, civil examination considerations, criminal investigations, and using voluntary disclosures to come into compliance. Attendees are warned that IRS cryptocurrency enforcement is increasing and advised to ensure proper tax reporting and record keeping of cryptocurrency transactions.
Learn more about Government Initiatives and Reporting Requirements surrounding the response to the growth of cryptocurrency markets. watch our full webinar on the topic at web address to learn more about the topic
As cryptocurrencies become entrenched in the investment world, central banks and others are looking at cryptocurrency investment regulation. The question is, is a cryptocurrency a security, a commodity, or a currency. A major issue for cryptocurrency investment regulation is how to trade bitcoin and others. Are they securities, commodities, or currencies?
https://youtu.be/CROU22FDxGE
The popularity of cryptocurrency has been on the rise for years. But 2020 has been a very special year with many more retail investors getting exposure to bitcoin during the COVID-19 lockdown, public companies beefing up their bitcoin holdings, and major fintech companies like PayPal introducing cryptocurrency products. This makes it a great time to look into the 2021 year and discuss what we can expect in the crypto tax space.
This document provides information about bitcoinex, a company that offers opportunities related to cryptocurrencies like bitcoin. It discusses what bitcoinex does, including providing education on cryptocoins and how to use them. It also summarizes what bitcoin is, why it should be used, and its benefits like low fees, privacy, and global accessibility. The document outlines bitcoinex's marketing plan and membership options. It details the company's trading performance and bonuses paid for recruiting others and trading volume. In the end, it emphasizes the company's values like real monetary value and instant payouts.
This document describes the services of an online financial advisor called FinMart that is part of The Financial Supermarket group. It specifically promotes a leave encashment calculator that allows users to calculate the taxable and non-taxable portions of leave encashment. The summary provides step-by-step instructions for using the calculator by visiting FinMart's website and selecting the calculator section.
Tradewin.Online has successfully completed a SOC 2 Type 2 audit by Deloitte, demonstrating a high level of security and data protection. This makes it the first electronic money manager to pass this compliance standard. The company also maintains commercial crime insurance greater than the value of digital assets held on the platform. It aims to provide investors with the same level of protection as traditional financial institutions through these security measures and insurance.
Find out innovative cryptocurrency business revenue models 2020 that use immutable blockchain technologies that are ready to challenge regular business models. Different types of cryptocurrency revenue models which includes crypto coin creation, cryptocurrency exchange development, cryptocurrency wallet development, smart contract development, stable coin development and more...
https://www.developcoins.com/cryptocurrency-revenue-model-2020
To calculate cryptocurrency taxes, you must first consolidate all trades from exchanges into one place and match sell transactions with buy transactions using the first-in first-out method to determine gains or losses. You must also link any wallets for mining transactions or generated coins sold during the tax year, and properly account for any transfers between exchanges. Once gains and losses are determined, the details must be added to the necessary tax forms.
Ripple Trade is a company that trades cryptocurrencies like Ripple and Bitcoin to generate profits for investors. It offers investment packages with daily returns of 1% for 300 days. Investors can deposit funds using cryptocurrencies or cash and earn returns that can be withdrawn on a weekly basis. The company aims to develop its own exchange, wallets, and payment systems to conduct trading operations and share profits with members.
every people want to invest money in different financial product like pf,fd,rd,sba. insurance ,mutual fund, bond ,debt,govt. securities and maximise wealth of money but all people are not aware about option trading strategy help you appreciate your investment amount. all tax payer want to save tax when fill itr .this file help you aware about deduction income tax
A presentation on AML & CFT Risks and Opportunities delivered at the Gibraltar Association of Compliance Officers Blockchain & DLT Event on 17 October 2018.
This presentation covers different industry players; what obligations those industry players may have; how to meet those compliance obligations; other key risks and the future of compliance in the cryptocurrency and DLT sector.
Best Trading is offering an investment platform which uses AI-based software which will automatically do trading by analysing the market scenario. From providing clients unlimited investment opportunities via various cryptocurrencies to combining Artificial Intelligence in a decentralised platform, this company offers a secure and stable base to an investor for conducting cryptocurrency investment. Best Trading CC Limited, a decentralised platform for cryptocurrency investment, is introducing AI-based software on their website besttrading.cc. Addressing the common issues faced by this procedure of cryptocurrency trading, the company is using AI to facilitate a secure & profitable investment platform for investors.
DEXPOOLS is a decentralized, peer to peer (P2P) OTC DeFi platform. Individual buyers and sellers are able to create trade offers bound to specific wallets and execute a trade via smart contracts. There is no need for an escrow custodian or any trusted third party in the process. Both buyers and sellers can set up swaps with literally zero slippage or impact on low liquidity markets. The only cost to use the platform is a low transaction fee for both trading parties vs the high slippage seen on most DEXs which can at times exceed 20-30%.
Vunani Private Clients introduction to copy trade, original videos available at Zulutrade http://www.youtube.com/watch?v=G3gV4Z3NWgQ and Currensee http://www.youtube.com/watch?feature=player_embedded&v=PEbtYEqkeW4
Vunani Private Clients introduction to copy trade, original videos available at Zulutrade http://www.youtube.com/watch?feature=player_embedded&v=PEbtYEqkeW4 and Currensee http://www.youtube.com/watch?feature=player_embedded&v=PEbtYEqkeW4
How a newbie can start learning cryptocurrency trading Blockchain Council
So, you've finally decided to begin your cryptocurrency trading career, and you're already dreaming how you'll spend your millions? There's no denying that cryptocurrency is an exciting market for investors, but success isn't always as straightforward.
Similar to How Do You Report Your Crypto Taxes? (20)
Investment advisors use the word outperform to describe how Bitcoin and altcoins Solana and Cardano have been doing. This is a way of saying that an investment is doing well while withholding judgment as to why, how, or any future performance. It does give any in terms of when to buy and when to sell Bitcoin.
https://youtu.be/OLMY91gzTHc
The rewards of using investment leverage can be impressive. However, the dangers of investment leverage are such that one needs to proceed with caution.
https://youtu.be/1c43BKp4PPY
Are Private Digital Tokens On Their Way Out?InvestingTips
In the aftermath of crypto winter regulators are busy cleaning up after crypto excesses and outright fraud. Bitcoin took a big hit and has now recovered to more than half of its 2021 peak. Nevertheless, there are now predictions that private digital tokens are on their way out.
https://youtu.be/78smq3UVjLo
Here is where options traders will remind you that by trading options you can make money as the market falls and not just when it is going up. So, when should investors trade options?
https://youtu.be/xgoOVxDLdLc
Will Northrup Grumman Go Into Commercial Aviation?InvestingTips
In this regard a new company with a fresh idea with backing by defense contractor Grumman is worth one’s attention. The bottom line is this. Will Northrop Grumman go into commercial aviation?
https://youtu.be/j80l5fyWlo0
An idea that has attracted attention is the use of privacy pools. What are privacy pools and how would a privacy pool work? Can these balance privacy and regulation to a degree that everyone is happy?
https://youtu.be/_4DLSVLat7g
How CFTC Rules Protected a Crypto BusinessInvestingTips
The collapse of FTX was a devasting blow to the crypto world. Billions of dollars in crypto assets were lost. LedgerX, a still-solvent subsidiary of FTX went up for sale at the end of 2022 and is still operating. This is about how CFTC rules protected a crypto business from the parent company’s light-fingered owner.
https://youtu.be/MgnooZ_Cp_4
Blockchain Tech in the Wake of Crypto WinterInvestingTips
Something good happened due to the huge losses that many incurred. Folks who were only interested in a quick buck have largely gone away. Those who remain are more likely to be interested in blockchain tech in the wake of crypto winter.
https://youtu.be/WzpBS8gKkyI
Investors are generally happy that the worst fears of runaway inflation versus a severe recession were not realized in 2023. Nevertheless, there are still economic and investment risks for 2024 to be considered.
https://youtu.be/wBzD8WW16P8
Bitcoin Viability As a Long Term InvestmentInvestingTips
Bitcoin has gone back up in value and is being promoted again by investment managers. Is there Bitcoin viability as a long term investment?.
https://youtu.be/jf1xp9Cveh4
What are the investment possibilities of Bitcoin versus NFTs today? When looking at these two investment possibilities, one has a fixed maximum that will ever be produced. The other suffers from production of more than the market is interested in.
https://youtu.be/tsRWaaaMcr4
Banks are looking at the downside of a digital dollar. Would a digital dollar hurt banks? Such an entity could end up sucking out bank deposits and putting a lot of banks out of business.
https://youtu.be/XyGteJzhngo
Cryptocurrency prices are volatile in the short-term due to market sentiment, but follow longer-term trends driven by fundamentals and macroeconomic factors like interest rates and inflation. While crypto prices fell during the recent period of US Federal Reserve interest rate hikes, with rate increases pausing, crypto and stock prices may rise over the next few years. Approval of spot Bitcoin ETFs could also stimulate greater Bitcoin trading volume and prices. However, the regulatory outlook remains uncertain and new rules may increase stability but also compliance costs. Overall, the document predicts 2024 will be a good year for cryptocurrencies.
What are the obligations of a crypto business? How are some crypto businesses now paying a price for forgetting this part of doing business?
https://youtu.be/8PAEU0g5pdE
One reason that governments want to regulate cryptocurrencies is their use by terrorists to finance their operations. Does crypto finance terrorism and, if so, how does that work?
https://youtu.be/AeWLcHK_rx4
What happens when someone reneges on a crypto blockchain business deal? How can such problems be resolved or mediated? What rules could or should apply when problems arise? A question at the bottom of this issue is this. Are smart contracts legal?
https://youtu.be/q8tsUwaHsdo
Part of what we are seeing today is the dealing with specific crypto-related crimes. Part is sorting out who makes the rules that crypto needs to follow. We wonder this. Can the law fix crypto’s problems?
https://youtu.be/VjGIk5aYFac
A lukewarm future is about the best that many see for crypto. We are reminded of Apple when it was so desperate that it accepted a $150 million bailout from Bill Gates and archrival Microsoft. Today we see Apple as the model for crypto’s future.
https://youtu.be/ZIQXs0j7jlE
13062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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केरल उच्च न्यायालय ने 11 जून, 2024 को मंडला पूजा में भाग लेने की अनुमति मांगने वाली 10 वर्षीय लड़की की रिट याचिका को खारिज कर दिया, जिसमें सर्वोच्च न्यायालय की एक बड़ी पीठ के समक्ष इस मुद्दे की लंबित प्रकृति पर जोर दिया गया। यह आदेश न्यायमूर्ति अनिल के. नरेंद्रन और न्यायमूर्ति हरिशंकर वी. मेनन की खंडपीठ द्वारा पारित किया गया
Essential Tools for Modern PR Business .pptxPragencyuk
Discover the essential tools and strategies for modern PR business success. Learn how to craft compelling news releases, leverage press release sites and news wires, stay updated with PR news, and integrate effective PR practices to enhance your brand's visibility and credibility. Elevate your PR efforts with our comprehensive guide.
Youngest c m in India- Pema Khandu BiographyVoterMood
Pema Khandu, born on August 21, 1979, is an Indian politician and the Chief Minister of Arunachal Pradesh. He is the son of former Chief Minister of Arunachal Pradesh, Dorjee Khandu. Pema Khandu assumed office as the Chief Minister in July 2016, making him one of the youngest Chief Ministers in India at that time.
5. https://profitableinvestingtips.com/profitable-investing-
tips/how-do-you-report-your-crypto-taxes
If you have crypto-related taxes to pay, that is your
responsibility. However, it is also the responsibility of
the exchange that you work through to report your
crypto transactions as well. The IRS and Department
of the Treasury are proposing a new crypto tax
reporting rule that will include crypto tokens, NFTs,
and any other digital assets. For example, if you are
engaging in blockchain gaming and are making a
profit from time to time, you will need to be paying
taxes on your gains. And the exchange or other entity
through which you are working will need to report
this.
8. https://profitableinvestingtips.com/profitable-investing-
tips/how-do-you-report-your-crypto-taxes
Anyone with even a moderately complicated tax
situation typically pays someone to do their taxes. This
typically has to do with deductions for losses, taking
depreciation on assets, and the like. In the case of
multiple crypto transactions, gains, and losses, there
are tax tools that will help sort this out, do the
multiple calculations involved and make your crypto-
tax-paying life a lot easier.
13. https://profitableinvestingtips.com/profitable-investing-
tips/how-do-you-report-your-crypto-taxes
If you are in the lowest tax bracket your short term gains
on selling in July would have been $31,000-$16,600 =
$14,400. Taxes for this short term capital gain would
have been $1,440. You would have done better selling
and paying your taxes than holding until the price fell.
This all assumes that Bitcoin will trade sideways for
the next year. In the lowest tax bracket your gains at
the end of a year of holding your Bitcoin will be your
profit times zero percent.