I really hope to be like you are saying guys, paying taxes on whatever you cash out. It makes sense.
I can’t think of it having to track and calculate all of your trades...

Hi guys,

I was wondering how to do my taxes in US.
I’ve bought some amount of cryptos on Coinbase, then moved them in binance and has been exchanged for other cryptos.
Once I pay those taxes this year and keep the crypto as an investment, do I have to pay taxes next year, if I don’t trade, sell or cash out them? Also, what if I decide to send all of my crypto to someone else, and they don’t belong to me anymore?
Sorry if it’s been discussed, but the whole tax thing is very confusing to me. I heard something about new tax bill that will affect crypto trading.

Thanks!