Manage your US tax liability while you keep your hard-earned Bitcoin.
The chart below tells the whole story. Nearly everyone who bought or traded in BTC anytime before mid December made money...
If you are like most Bitcoiners, you've traded some and held some, gaining from both strategies. Congratulations on all those gains. You believed in it before anyone else, and you profited from it.
Tax authorities are paying attention. A recent court order forced Coinbase to hand over 13,000 account holders' information to the IRS. It's more important than ever to stay tax compliant with Bitcoin trades.
But to pay last year's taxes, we may be forced to liquidate current holdings. This might incur another taxable event for next year, creating a cycle of selling Bitcoin to pay taxes for selling your Bitcoin.
Consider alternatives to selling in order to free up cash at tax time. You may be able to borrow against your Bitcoin to avoid creating more tax liability.Start your loan here
Many of you are still long and want to keep your Bitcoin but still stay compliant with the IRS. Here at Unchained Capital, we understand. We’ve been there. We created this loan product specifically to solve this problem. Learn more about our Personal loans.
You can get the cash you need for your taxes without selling your highly valued Bitcoin.
Due to the complexity of tax law and changing legislation, you should consult with your tax professional regarding your specific circumstance. The information contained on this site does not constitute tax advice.