RE: Trading Bitcoin for an Altcoin Won’t Shield You From the IRS Anymore

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Trading Bitcoin for an Altcoin Won’t Shield You From the IRS Anymore

in cryptocurrency •  7 years ago  (edited)

No, typically only the profit at end of all trades would be charged.

So if you bought coins worth 10$k and then you did buying and selling of 10 of thousands and at the end are left with 25k$ and decide to sell it off, then you would be charged for income of 15k$.

cryptocurrency
7 years ago by

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