as far as I know:
The IRS has decided to deal with convertible cryptocurrencies as a property [Payment of tax on capital gains] That means when you make a purchase using Bitcoin, you have to record the amount, subtract the cost from the price and report the difference.
So I think you will only pay/report if you make a conversion not holding.
you can use this tool to calculate taxes: https://www.bitcoin.tax
it’s better to move this topic into legal
Topic: Seeking TAX advise for USA (Read 113 times)
Do we need to report our Crypto holdings to IRS, even if they have been exchanged for one another (trading BTC for Alts) and never been traded for fiat?
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