Cryptocurrency Q&A
Is swapping crypto on Coinbase taxable?
Is swapping crypto on Coinbase taxable?
Sara
Wed Feb 26 2025
|
6
answers
1751
I swapped some crypto on Coinbase and I'm wondering if this kind of transaction is taxable. I'm concerned about the tax implications of my crypto swaps.
6 answers
Davide
Fri Feb 28 2025
Swapping cryptocurrencies involves exchanging one type for another.
Was this helpful?
390
27
DigitalDuke
Fri Feb 28 2025
The Internal Revenue Service (IRS) considers crypto swaps akin to selling the first coin for US dollars.
Was this helpful?
237
91
WhisperInfinity
Fri Feb 28 2025
Subsequently, the IRS treats the use of these US dollars to purchase the second coin as a separate transaction.
Was this helpful?
380
60
CryptoGladiator
Fri Feb 28 2025
This taxable treatment applies not only to swaps between different cryptocurrencies but also to conversions to stablecoins.
Was this helpful?
170
44
lucas_lewis_inventor
Thu Feb 27 2025
BTCC is a prominent cryptocurrency exchange that offers a range of services to its users.
Was this helpful?
257
84
Load 5 more related questions
