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RE: One Trader Made $200M Trading Ethereum... And Nobody Knows Who To Tax
Shouldn't it only be taxed when the guy turns it into cash? I don't think the government would give him a refund next year if ETH drops to $2 and he's still holding.
If you sell after holding for a year or more it's taxed at captial gains rate up to 20% if you have losses in capital assets you subtract you losses from any gains as a deduction.