I know if you sell your crypto to USD, it's a taxable event.
I know if you trade your crypto for another crypto, it's a taxable event.
I know if you get a dividend from a crypto, like KCS, it's taxable. (not 100% sure about this, but pretty sure)
Now my question is, lets say every time I buy BTC (as an example $100 worth), I trade the BTC for "x" crypto. I know it's taxable, but I trade immediately after purchasing the BTC, and the "x" crypto is also worth $100 after the trade. Then no gains or losses happened, right?
It would mean I owe no tax on that trade, and also realized no loss? (Until I of course trade that "x" crypto for another crypto or USD).
Might be a stupid question, I just want confirmation, pretty sure it works like that. Also, this might help others if they have any questions.
Any help is appreciated, thank you.
submitted by /u/bears_or_bulls
Read more: Need to confirm something with you guys who know about taxes….