
You may qualify for long-term capital gains rates of 0%, 15% or 20%, depending on taxable income, if you hold the currency for more than one. Boiled down, you incur capital gains whenever you sell property for more than you purchased it for. You then report this gain on your yearly. To calculate the gain or loss, the difference between the adjusted cost base (ACB) of the virtual currency and the amount received, in the case.