US lawmakers propose adding digital assets to 'wash sale' rule and raising capital gains tax
Cointelegraph
Published Sep 13, 2021 05:36PM ET
Updated Sep 13, 2021 07:20PM ET
Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users.
According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from the existing 20% to 25% for “certain high income individuals.” A surtax of 3.8% on net investment income would seemingly apply to the proposed changes, bringing the U.S. capital gains and dividends tax rate to 28.8% for wealthy crypto users.
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Written By: Cointelegraph
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