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Retrieved on: 2025-03-23 16:10:31
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Summary
The article explains the IRS's classification of cryptocurrencies like bitcoin as property, affecting how crypto exchanges are taxed in the United States. Capital gains, income taxes, and legalities surrounding cryptocurrency trades, sales, and payments are detailed, highlighting the tax implications of various transactions. The key concept of a 'crypto exchange' is central to understanding these tax dynamics.
Article found on: www.wpri.com
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