tax issue

lastresort

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I have never done crypto so pardon my ignorance.

Selling crypto is a taxable event, right? Isn't it a bit PITA to deal with tax for every crypto transactiopn?
 
FreshAndEasy said:


Is it considered selling if you are paying with it?

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Everytime you buy something with cryptocurrency, it is a taxable event. At least in the US, cryptocurrency is not a currency but a property. Of course it only matters if you are making profits but the rules are more complicated.
 
lastresort said:


I will look into it myself but I m pretty tech illiterate, could you give me a quick rundown>?

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Stable coins don't change value so when you buy/sell their value is still the same as they are pegged to the dollar.
 
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