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Cryptocurrency Taxes - US Based


snub-fighter

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3 hours ago, pmyke01 said:

I was under the impression I didn't need to report anything until I convert to USD. Is that the general consensus or am I wrong?

This may *not* be good enough.  At least here in the US.  According to my tax guy, even crypto-to-crypto is taxable, which was an unwelcome surprise for me; when bitfinex ended US support, I had to move some things, and now it looks like those might have been taxable events. 

Luckily, any altcoins I have are a very small part of my portfolio; it pays at tax time to be a buy-and-hodler.  :JC_thinking: 

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On 12/28/2017 at 3:32 PM, Hodor said:

This may *not* be good enough.  At least here in the US.  According to my tax guy, even crypto-to-crypto is taxable, which was an unwelcome surprise for me; when bitfinex ended US support, I had to move some things, and now it looks like those might have been taxable events. 

Luckily, any altcoins I have are a very small part of my portfolio; it pays at tax time to be a buy-and-hodler.  :JC_thinking: 

Okay so I should be fine. I haven't made any exchanges of coin types or withdrawls. I'm a hodler too.

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