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US only. It seems even Puerto Rico doesn't ask capital gains on crypto.
by koonsolo 5y ago
US only. It seems even Puerto Rico doesn't ask capital gains on crypto.
- waych 5y agoIRS considers cryptocurrency as property, and exchanging one for another is a taxable event. See "Q16. Will I recognize a gain or loss if I exchange my virtual currency for other property?" [1]: A16. Yes. If you exchange virtual currency held as a capital asset for other property, including for goods or for another virtual currency, you will recognize a capital gain or loss. For more information on capital gains and capital losses, see Publication 544, Sales and Other Dispositions of Assets. [1]: https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions https://www.irs.gov/individuals/international-taxpayers/freq...
- dgjnvhhb 5y agoNot if you move to Puerto Rico.
- prepend 5y agoI think that’s more a function of Puerto Rico not having federal taxes than anything about crypto (ie, no capital gains or income tax on anything, including crypto).