Quote from: jij on December 30, 2017, 10:03:39 PM

Hi guys,

I was wondering how to do my taxes in US.
Ive 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 dont trade, sell or cash out them? Also, what if I decide to send all of my crypto to someone else, and they dont belong to me anymore?
Sorry if its 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!

I'm not a CPA and this is still uncharted territory. I believe you don't have to pay until you cash out to fiat, pretty sure thats how it goes. Hope this helps. Definitely interested in hearing what a CPA and the 2018 tax book says about this.