IRS Clarifies Tax Rules for Crypto - Article and Further Questions

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In a statement, the IRS clarifies that buying and holding does not need to be reported. However, sales, conversions, and transfers do trigger taxable events.

https://www.theblockcrypto.com/linked/97037/irs-clarifies-buying-holding-crypto-1040-form

So.. Does that mean if I turn some Atom into BTC, that somehow must be reported/requires me to pay taxes on it, and then when I move that BTC (or any other coin) off an exchange or from a wallet TO a different wallet, that that also must be reported and paid taxes on?

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Posted: 3 years ago
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