What Are the Tax Implications of a Crypto-to-Crypto Trade? ▴ Learn

What Are the Tax Implications of a Crypto-to-Crypto Trade?

A crypto-to-crypto trade is treated as a taxable event, similar to selling one crypto for USD and immediately buying another. The trader realizes a capital gain or loss based on the difference between the fair market value of the crypto received and the cost basis of the crypto given up.

This requires tracking the FMV of both assets at the time of the trade.

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