The IRS treats every crypto swap as a taxable sale, meaning a simple Bitcoin-to-Ethereum trade could leave you with an unexpected bill. Your holding period and cost basis determine exactly how much you owe, and the gap between those two…
When you convert Bitcoin (CRYPTO:BTC) to Ethereum (CRYPTO:ETH), it may feel like you’re only moving money around. However, the IRS sees this crypto swap as a sale. That means a $10,000 trade could trigger a tax liability—so how much could you owe?
The IRS Treats a Crypto Swap as a Sale
Bitcoin is currently trading around $80,555, which is about 36% below its peak. Meanwhile, Ethereum is priced near $2,340 after a 43% drop over the past year. These dramatic…
