AmitaR
Employee Tax & Finance Expert

Get your taxes done using TurboTax

Hello NandoLkz,

Thanks for joining us today!

If you sell or exchange crypto, it is a taxable event.  It can be taxed as Short-term or Long-term depending on how long you held on to the crypto before doing the exchange.  Holding for one year or less will be treated as short-term, holding for more than one year is treated as long-term.

 

Additional resources:

 

https://turbotax.intuit.com/tax-tips/investments-and-taxes/4-crypto-tax-myths-you-need-to-know/L4cej...

https://ttlc.intuit.com/turbotax-support/en-us/help-article/cryptocurrency/cryptocurrency/L4tWUeZUU_...

https://turbotax.intuit.com/tax-tips/investments-and-taxes/your-cryptocurrency-tax-guide/L4k3xiFjB

 

Hope it helps!

 

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