This is probably a better read than WSJ - https://www.investopedia.com/tech/taxes-and-crypto/ https://www.investopedia.com/tech/taxes-and-crypto/ Scroll down t

This is probably a better read than WSJ - https://www.investopedia.com/tech/taxes-and-crypto/ https://www.investopedia.com/tech/taxes-and-crypto/ Scroll down to personal purchases. "Currently, tax code allows taxpayers to exclude up to $200 per transaction for foreign currency exchange rate gain, if the gain was derived from a personal purchase, like a cup of coffee. This is known as a de minimis election. But there is no “de minimis” clause that exempts small transactions, which can create a very tangled tax problem if one is constantly trading crypto and also using it to buy goods and services." Of course keep reading & note the part where you can't deduct a loss either if you buy BTC at $60,000 & then it goes down to $50,000 because Elon Musk tweeted while you were buying a coffee or pair of jeans with your BTC.