Is it possible to sell Bitcoin while paying 0% in Capital Gains Tax?x.com/AdamSimecka/status/1805999499434725711
187 sats \ 7 comments \ @wealthcrumb 27 Jun bitcoin_beginners
"Did you know that if you are a married couple that files their taxes jointly, you can live off of up to $94,050 of your bitcoin without paying any capital gains tax?
Yes, this is true. Completely tax free.
Consult your tax professional for more details."
Sorry if this is not the right stack for this topic. If there's a better stack, please let me know. I want to learn more about this and similar things like the wash sale loophole for example.
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11 sats \ 1 reply \ @96c0b276a3 28 Jun freebie
This assumes no other income and no state cap gains tax (like in TN or NH).
2023 info https://www.irs.gov/taxtopics/tc409 https://m.stacker.news/37398
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10 sats \ 0 replies \ @96c0b276a3 28 Jun freebie
Its actually more than that since youre taxed on the gain not the sale. So if you sell $150k but bought that bitcoin for $70k, your gains are $80k which dont hit the Federal threshold if you're married.
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10 sats \ 1 reply \ @DarthCoin 27 Jun freebie
so many things wrong in this bullshit post ! btw this is not a post for bitcoin beginners... why people are zapping this crap?
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0 sats \ 0 replies \ @wealthcrumb OP 27 Jun
Always good to see you Darth
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1 sat \ 1 reply \ @16d86e9daa 28 Jun
i know for certain If you have a tax-advantaged account (like an IRA or similar retirement account in the US), selling Bitcoin within that account may allow you to defer taxes until you withdraw funds, potentially at a lower tax rate in retirement
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0 sats \ 0 replies \ @wealthcrumb OP 2 Jul
Do you expect tax rates to rise or lower over time?
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0 sats \ 0 replies \ @03365d6a53 27 Jun
no mention of jurisdiction and based off a twatter post
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