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Author Topic: [2018-04-02] Do You Owe the IRS for Crypto-to-Crypto Trades?  (Read 12 times)
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April 02, 2018, 01:04:24 PM

To some, the attitude of crypto traders resembles the world of Dorothy in the Wizard of Oz.

They amble through the magical Land of Oz, following the yellow (gold) brick road, guided by a motley, sometimes bizarre, cast of characters, often oblivious to the dangers and realities of the world in which they live. 

In particular, the tax world in which they live.

Many crypto traders have believed that they are "off the radar" of tax authorities, who simply won't find out about their transactions. And, even many who do accept that they may have to report their profits from crypto have taken the position that they have no tax liability until they eventually receive "fiat" currency, and should not be taxed on coin for coin exchanges.
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