About this document
Understanding Crypto Tax Implications by John Medina is a document available to read on EtoBox.
1) Moving cryptocurrencies between exchanges like moving Bitcoin from Coinbase to Kraken is not considered a taxable event. 2) For tax purposes, the owner of the private key is viewed as the trustee of the funds, and any realized gains would need to be reported by the trustee to the IRS. 3) Only when cryptocurrencies are sold back into fiat currency like US dollars is there a tax implication, as the realized gain or loss is measured in the change in dollar value from when the currency was acquired to when
- Author
- John Medina
- Language
- EN