Regardless, Cawthorn, who sold LGB for ETH (which itself was crashing through January) likely lost money on his $150,000 initial investment; he almost certainly ran up a hefty short-term capital gains tax bill for the 2021 trades. Based on his congressional salary for last year ($174,000), his married status and his $50,000 gain from the Dec. 31 trades, Cawthorn’s New Year’s Eve swaps fall into a 24% tax bracket, experts said.
Source: https://www.coindesk.com/policy/2022/06/01/cawthorns-crypto-wallet-reveals-undisclosed-trades-amid-house-ethics-investigation/?utm_medium=referral&utm_source=rss&utm_campaign=headlines