Crypto Exchanges Get Dicey Under New IRS Rules

Crypto-to-Crypto exchanges are taxable similar to sale of cryptocurrencies. If you had any crypto to crypto exchange transactions during 2019, you would have to check “yes” on the crypto question on Schedule 1. Speaking of crypto to crypto trades, one puzzling question to many crypto enthusiasts is why do you even have to pay taxes when you don’t cash out the proceeds into US dollars? These transactions are very common among crypto traders because some alt coins can only be purchased using other major cryptocurrencies such as bitcoin (BTC) or ether (ETH).  


NOTE: By Clicking in the “MORE” Link You Will be Leaving CardBuzz or Sites Owned and Operated by Ruebud Media. While CardBuzz Carefully Selects Articles Published by Established and Credible Sources We Are Not Responsible for 100% Accuracy of Third-Party Content. Any Opinions Offered within the Content Are Solely by the Source and not CardBuzz or its Affiliates or Partners.

Some Articles May Require Authorization, such a Trial or Paid Subscription, to Access the Full Text of Article. Please note CardBuzz Receives No Compensation or Commission Whatsoever from Any Content Sources. Also note Ruebud Media’s Security and Privacy Policy Does Not Extend to Third Party Content Providers.

CardBuzz Focus Areas: e-commerce; m-commerce; m-wallets; biometrics; cryptocurrency; artificial Intelligence; blockchain; fintech; fraud; NFC; POS; NFC; EMV; P2P; credit cards; debit cards; charge cards; prepaid cards; cross-border; cybersecurity; processing; consumer banking; loans; debt; insurance; mortgage; investing; saving; debt collection; sub-prime; consumer confidence; business confidence; investor confidence;


PYRPTS (global payment reports)

PYVNTS (global payment events)

BankCenter (payment news releases)

CardFlash (payment executive news)

CardTrak (consumer payment news)

CardData (quarterly payment data)

RAM Research (consulting)

RAM Research (research)

The RAM Reports (annual payment reports)

CardBuzz is a Division of Ruebud Media, Inc.

#cryptocurrency #altcoin #bitcoin #ether #BTC #ETH #LKE #Section1031 #IRS #crypto #Form8949 #ScheduleD #ScheduleC #Form1040 #cointracker