If you have held it long term, meaning over a year, profits from any sale are subject to capital gains tax. But with short-term holdings of less than a year, gains from a sale are treated differently -- as ordinary income, with the rate determined according to your tax bracket. If you have been buying and selling crypto through major exchanges, such as Coinbase or Robinhood, then you should be getting annual statements that will make reporting straightforward. GIFTING STRATEGIESOne way to move crypto around without incurring taxes is to give it away. “If you have had gains from selling crypto, don’t forget you can offset your gains with losses, just like with stock,” says Lisa Greene-Lewis, a CPA and tax expert with TurboTax.
