Bought bitcoin last year? Here’s how to save money on your crypto taxes

Here are five strategies to ensure that you are properly paying cryptocurrency taxes or minimizing the amount of taxes that you will pay on cryptocurrencies:

  1. Be a long-term investor.
  2. Immediately put money aside in dollars whenever you sell a cryptocurrency and make a profit (and not in another cryptocurrency).
  3. Keep a detailed record of all your cryptocurrency transactions.
  4. Hire a tax attorney and/or an accountant to help you file taxes.
  5. You can gift or donate your cryptocurrency and not pay taxes, if you have not sold the cryptocurrency.

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