Accountant not needed. You can choose which blocks
Post# of 56324
Posted On: 03/05/2015 9:32:06 AM
Accountant not needed. You can choose which blocks you sell, and you pay taxes on those blocks only.
IE if you bought 50,000 on Dec 13 2013 and 50,000 on Dec 13 2014 you can sell as much of either as you want. But the money made from the blocks from 2013 would be taxed at the "investment" rate and the money made from the 2014 blocks would be taxed at your current tax bracket rate.
I would personally sell the longest first, no reason to hold those and pay the higher taxes.
IE if you bought 50,000 on Dec 13 2013 and 50,000 on Dec 13 2014 you can sell as much of either as you want. But the money made from the blocks from 2013 would be taxed at the "investment" rate and the money made from the 2014 blocks would be taxed at your current tax bracket rate.
I would personally sell the longest first, no reason to hold those and pay the higher taxes.
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