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Gentle taxes reminder for US Citizens living in the US and abroad

Bitcoin Reddit

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You only create a taxable event when you sell Bitcoin for another asset, be it fiat or anything else. This includes "swaps" and "converting" to USDT or any other instrument.

Buying, storing, transferring Bitcoin to another address that you own DO NOT make a sell event.

Again, moving and storing your Bitcoin is NOT taxable.

I see confusion from time to time on this and I know the thought of taxes can be scary, so please let this post put your concerns at ease if this was unclear to you previously.

submitted by /u/stringings
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