how much taxes do I have to pay on cryptocurrencies?

Question

So i've been using robinhood since about september 2020. I've been playing around with cryptocurrencies and honestly in total I've only made like $40 in total. I've also been doing a lot of what people call day trading. making small gains. for example i would buy etherum for like 1130 and sell at 1150 then repeat. but i still suck. these are a lot of transations. how much do i get taxed?

Answer 1

Favorite Answer

You're a moron. Yes, you have a tax nightmare ahead. For $40. SMH

Answer 2

It's not the same for everyone.  It depends on how much other income you have.

Answer 3

i would ask a tax place about it