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Get your taxes done using TurboTax
This sounds like wrong information.
While you do not pay taxes on the entire BTC amount transferred, when you transfer BTCfrom CoinBase to a local wallet there is a transfer fee associated with the transaction.
That fee is paid in BTC to the miners on the network.
I believe you will owe taxes on that fee as that transfer is considered a service.
As always consult a tax professional for more information
While you do not pay taxes on the entire BTC amount transferred, when you transfer BTCfrom CoinBase to a local wallet there is a transfer fee associated with the transaction.
That fee is paid in BTC to the miners on the network.
I believe you will owe taxes on that fee as that transfer is considered a service.
As always consult a tax professional for more information
‎June 4, 2019
9:34 PM