Cryptocurrency Taxes and Short-Term Capital Gains Tax | iTrustCapital

TAXES!...TAXES!...TAXES!

The hatred of paying taxes is one of the few things we all seem to agree on. It transcends politics, race, economic class, gender, and age.

We work hard for our money and to have to hand a large portion of it over the IRS is PAINFUL!

For many of those who traded cryptocurrency in the last few years, the pain is even worse!

The 2017 boom resulted in HUGE gains!!!

But for many, instead of paying taxes on those gains...they bought Lambos!

And traded into Alt coins and ICOs...Then in early 2018, the party came to an abrupt STOP.

The losses piled up!

And to rub a substantial amount of salt in the wound, taxes were still owed from those 2017 gains! In most cases, because positions weren’t held for at least 1-year, they were considered short-term capital gains and taxed as ordinary income...So depending on what state they live in, the tax rate can be up to 50%

There’s good news...

This kind of pain can now be avoided by trading crypto inside of an IRA.

By utilizing an IRS compliant IRA, investors can trade as often as they want without creating taxable events. That’s right! Tax-free trading!

You see...taxes are deferred with a traditional IRA and they’re completely eliminated with a Roth IRA.

IRAs have existed since the ’70s but what I’m talking about isn’t your parent's retirement account, this is the latest and greatest way to leverage tax-advantaged accounts to invest in some of the greatest opportunities of our lifetime!

To learn more about crypto taxes, visit us at iTrustCapital.com, or dial 866-30-TRUST (866-308-7878). Did you know that every time you trade cryptocurrency you are creating a taxable event?

iTrustCapital was founded by industry leaders in the alternative investment IRA industry. iTrustCapital is the leading self directed digital asset crypto IRA trading platform that allows you to directly buy and trade cryptocurrencies, such as bitcoin, and physical gold, in real-time through your tax exempt retirement accounts.

iTrustCapital’s cutting edge, IRS compliant crypto investment platform eliminates the costly inefficiencies and outdated processes of previous IRA models, opening the door for investors to safely, simply, and legally move money from their retirement accounts into the Cryptocurrency and the physical Gold markets—at costs as much as 90% lower than other crypto IRA companies.

iTrustCapital’s goal is to empower 10 million investors to participate in the economic growth that the blockchain future holds.

To learn more about gold & crypto IRA retirement account trading, visit us online at iTrustCapital.com to learn more or call us at 866-30-TRUST (866-308-7878)

****ALWAYS check with professional tax service providers and legal professionals before you buy, sell or trade cryptos!

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