I am just trying to get some clarification on the new tax laws in the USA. It is obviously a blow to traders which I am.
I know coin to coin is a taxable transaction now. For instance, I buy Eth off of Coinbase and then I send it to Bittrex to buy ADA.
So my question is,
Am I getting taxed for purchasing ETH with fiat from Coinbase also?
Also, I noticed people are saying that only the gains from Crypto to Crypto are taxed, so if I bought $100 worth of ETH and sent it to Bittrex, traded that ETH for $100 worth of ADA, there is no gain. Still taxable?
And if I am getting taxed for exchanging Crypto to Crypto, does anybody know the "exact percentage" traders are getting taxed? I have seen 15%-25%
Thanks.