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RE: Why It Makes Sense To Pay A Premium For Steem Dollars
"According to a CPA, selling your Bitcoin for another crypto is not a taxable event."
This is not true in the US and is dangerous advice.
"According to a CPA, selling your Bitcoin for another crypto is not a taxable event."
This is not true in the US and is dangerous advice.
Upon further research, it seems like it's not really clear one way or the other. Here's an informative post on it. Damn, taxes are confusing! https://steemit.com/tax/@lpfaust/us-tax-considerations-crypto-to-crypto-trades-trading-bitcoin-and-altcoins
Honestly, I would not trust a CPA who would suggest that transacting one property into another is not taxable (aside from the very limited, very specific circumstances of 1031 transfers). Be careful...