3 ms·
This could be a 1031 like-kind exchange [0] and non-taxable if you weren't in "constructive receipt" of USD (sold BTC for USD, then later bought ETH with the US
by panarky 9y ago
This could be a 1031 like-kind exchange [0] and non-taxable if you weren't in "constructive receipt" of USD (sold BTC for USD, then later bought ETH with the USD).
IANATL, YMMV, consult a professional, etc.
[0] https://en.wikipedia.org/wiki/Like-kind_exchange https://en.wikipedia.org/wiki/Like-kind_exchange
- aorloff 9y agoI believe for this to be a 1031 you would need a qualified intermediary to handle the USD portion. Once you touch the funds, you've broken the exchange.