In the U.S., crypto is considered property. If you hodl, no concern. Once you start converting back into fiat or trading into other crypto, keep records and bring to your accountant.
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In the U.S., crypto is considered property. If you hodl, no concern. Once you start converting back into fiat or trading into other crypto, keep records and bring to your accountant.
You answered my question. I was wondering if you only declare the value when you change back into fiat and not other currencies. It would seem that they need a 1031 type rule where you can exchange properties without paying tax.
I found this:
That was a seriously good article @blubeast. Thank you
I heard someone say once that the IRS only knows what you tell them. I don't agree....and, well, that article really lays it out, doesn't it? Be prosperous.