Any of you starting to regret profit taking in crypto this year? (IE taxes) 😹

Like many on here most of my cryptos I’m holding for the long run really. I’d love to take out profit in years from now and be glad I held on so long and got in when I did.

With that said, this was my first year in crypto so I didn’t know what I was doing all the time. I also started out on shit like Dogecoin too where selling it off at a certain point made sense. There have also been times where my wallet went dry and I unfortunately needed to sell off little bits of eth here and there. 🐦

With that said I’m currently letting Koinly figuring out how much profit I actually made and I’m hoping it isn’t much. But lesson learned for the future- fuck selling in general. 😅

How is your crypto tax season coming along?

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14 thoughts on “Any of you starting to regret profit taking in crypto this year? (IE taxes) 😹”

  1. Reminder to everyone is much cheaper to pay capital gains tax instead of income tax. You must hold crypto longer then a year to begin from this. Everything up to 40k in income for the U.S. is tax free under capital gains vs the 10-12% for income tax.

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  2. As an Australian I’m stuck holding for 12 months unless I want to pay the full brunt of CGT. If I hold for 12 months I can apply for a discount on CGT

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