Hello: Your crypto is taxed when you you sell it. You will need to report the sale. The proceeds less the cost basis result in a gain or loss for tax purposes.
Here is a link with further details: https://ttlc.intuit.com/turbotax-support/en-us/help-article/cryptocurrency/cryptocurrency-like-bitco...
Have an amazing day. Evelyn M (CPA 20+ years)
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