Investors in Bitcoin (CRYPTO: BTC) have been rewarded with handsome gains that have made it tempting to cash in and take profits. But if you’re one of them, be careful: Your tax filing status and income could cause you to pay a pretty penny on your Bitcoin profits. For some investors, there’s a way to bypass or drastically reduce taxes if you check the box on the IRS rules that give you access to the best tax rates for Bitcoin investors.
Here’s information you should know to determine if you qualify for the 0% tax bracket — and the incredible tax recipe that could let you claim up to $80,800 in Bitcoin profits tax-free.
Image source: Getty Images.
