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In the U.S., gains from cryptocurrency trading are taxed just like trading stocks: as capital gains. Capital gains are only taxed when they are realized. At this time, you have realized a $40,000 gain, but you have not realized a loss. If you do not sell your new position before the end of the year, you will be taxed on the $40,000 gain. (Note: your gain is $...


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Since all the sales are in the same tax year, you're fine Crypto-"currencies" don't tax like recognized currencies, just regular securities like stocks. Capital gains are taxable when you sell the stock/security. Likewise, capital losses are only created when you sell. So if you sell this year, your gains and your losses happen inside the same tax ...


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I focused on the state government:State and Local Taxes Imposed : Below are the State and Local Taxes that have fixed rates. State Imposed Adult Use Cannabis Cultivation Privilege Tax ... Hotel Operator’s Tax Individual Income Tax Liquor Gallonage Tax ... Withholding (Payroll) Tax Local Imposed Illinois Sports Facilities Hotel Tax Metropolitan Pier and ...


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A negative is harder to prove than a positive, but this page suggests that Illinois is not one of the state's that has a county-level income tax. If you need this information for decision-making purposes, I would recommend contacting the county in question directly.


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You aren't involved. You are neither receiving money from the grandparents nor giving any money to your daughter. What tax liabilities your daughter's grandparents might be subject to depends on Indian tax law. Your daughter, I assume, is not taxed regardless of the source of the gift. Related, tuition payments you make for your children are exempt from ...


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Ordered from fastest to slowest, you could try: Registering for your account online and looking for your notice Requesting a transcript for 2003 or 2004, as appropriate Calling to make an appointment at a local IRS office


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Illinois counties collect property tax and sales tax, but not income tax. (Source: long-time Illinois resident.) Also see, for example, this proposal to start having a Chicago income tax here, which notes that: The City does not impose an income tax on residents or workers in Chicago. All residents of Illinois, including Chicago ...


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As far as taxes are concerned, your wife made the donation, since her name is on the receipt. I don't think the source of funds/mode of payment is relevant, as she could have used cash from your wallet. Mode of Payment A deduction can be claimed under section 80G only when the contribution is made to specified funds and institutions either via cheque or ...


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