Crypto Traders, did you know converting cryptocurrencies is a taxable event? It's like selling one digital asset to purchase another. Be mindful of tax consequences! Ever been caught off guard by this?

Attention, crypto traders! 🚀 Navigating the IRS rules to qualify for active Trader Status? Substantial activity considers the amount of time you devote to trading. This can include time spent trading, researching, back-testing strategies, technical analysis, etc.

Navigating the IRS rules to qualify for active Trader Status? Substantial activity considers your trade volume and average holding period. Traders will roughly want to clear north of 750 buy/sell orders and keep average holding period below 31 days. #cryptotax

Navigating the IRS rules to qualify for active trader status? The IRS considers the continuity and regularity of trading activities, preferring traders who execute trades on at least 75% of the market days. For equities, 189 of 252 market days. For cryptocurrencies, 274 of 365.

Strong RSI in the bull zone paired with a measured move off of ascending triangle? How close will HNT get?

Coinbase is looking like it wants to make a new local higher high with a push into bullish control zone on RSI 👀🚀 The trend is your friend.

The stock-to-flow model for Bitcoin Stock = Total existing supply of Bitcoin Flow = New supply of Bitcoin mined each year

If you cash out a large crypto gain during 2024, you may be subject to IRS quarterly tax payments (AKA estimated taxes), for the first time. If quarterly taxes are not paid on time, you may be subject to an underpayment penalty. Payment deadlines: Apr 15, Jun 17, Sep 16 & Jan

Trader status is a classification by the IRS that separates the casual investor from an individual engaged in business as a trader in cryptocurrency. This distinction allows you to deduct expenses you incur in the regular operation of your trading activities.

As the Bitcoin halving approaches volatility and direction will be interesting to watch. Trade safely!

Don’t wait until the last minute! The 1040 personal return deadline is coming in hot! 4/15/2024