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You report the value of the gain at time of taxable event. Trading crypto for other crypto, or fiat, or buying real goods with it.... are taxable events. The ca
by PKop 7y ago
You report the value of the gain at time of taxable event. Trading crypto for other crypto, or fiat, or buying real goods with it.... are taxable events. The capital gain is the appreciation in value at time of transacting.
- mirekrusin 7y agoSo if you hodl you are not (yet) taxable? Only when you convert btc back to usd and there is a gain?
- PKop 7y agoWhen you convert BTC to anything and there is a gain, denominated in the currency you pay taxes in, so buying something for BTC, trading to other cryptos, trading for USD, trading for Euros, etc.