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GOBankingRates
GOBankingRates
G. Brian Davis

I Sold Bitcoin and Owed This Much in Taxes — Here’s How To Calculate Yours

Bitcoin IRS Crypto capital gains Lisa GreeneLewis
ardasavasciogullari / iStock.com

When Sukesh Tedla started buying and trading Bitcoin in the late 2010s, he didn’t realize he owed taxes on the gains.

“When I discovered I owed taxes, it was a nightmare. After compiling reams of transaction data, I ended up paying around $30,000 in taxes plus late penalties,” he said.

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