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RE: ADSactly On ADSACTLY - Part #38 - Taxation of Crypto - Part #1

in #adsactly7 years ago (edited)

Exchanging your cryptos into USD on an exchange is a tax event and you may have to pay capital gains tax if there were gains.

You can buy stuff with cryptos directly but that's a tax event, too. If the tax authorities catch you, you will have to pay your taxes and a fine, too. And they often will at least if you're not buying OTC.