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What about crypto to crypto conversion? Taxable event?
by coralreef 9y ago
What about crypto to crypto conversion? Taxable event?
- surds 9y agoFrom what I have read on the matter, yes. If you made gains on one crypto and converted that into another, you own tax on the gains of the first one. How does loss account in this situation? Suppose some crypto has fallen and I am in loss - does this 'loss' (at current valuation) help reduce the tax liability?
- Bluecobra 9y agoYes: https://www.bloomberg.com/amp/news/articles/2017-12-21/tax-free-bitcoin-to-ether-trading-in-u-s-to-end-under-gop-plan https://www.bloomberg.com/amp/news/articles/2017-12-21/tax-f...
- kruhft 9y agoYes, I've heard that as well.