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Payment with crypto is a taxable event whether it is converted into USD or not. You will pay capital gains or income on the delta of the value of the currency
by quantumBerry 5y ago
Payment with crypto is a taxable event whether it is converted into USD or not. You will pay capital gains or income on the delta of the value of the currency at the time of transaction.
This doesn't make it any easier to evade taxes than it would if you paid with cash. The IRS can subpoena your payments and tax the value of the crypto at time of transaction. If you don't report the sale (payment) of the asset on your taxes, there will be a mismatch that is easily traceable.
This is just the real estate industry adding artificial value by catering to the crypto market.