Is crypto taxed when converted
WebNov 18, 2024 · Even if the conversion had a 1:1 basis, you would still have to report the trade and a $0 gain because any crypto trade is taxable and reportable in the US. ... Our crypto tax software makes it easy to import your trades, get your gains calculated, and generate the appropriate tax reports. WebJul 14, 2024 · Cryptocurrency is considered "property" for federal income tax purposes, meaning the IRS treats it as a capital asset. This means the crypto taxes you pay are the …
Is crypto taxed when converted
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