yo0sty
New Member

Get your taxes done using TurboTax

Oh yes I do. I’m asking something in specific about income made from self employment. I provide free lance services for projects and get paid in ether. So that counts as income and income tax. Let’s take an example. I get $400 in eth (let’s say it’s .2 eth worth $400) for making a website for a project. Now when I go to sell it, say on coinbase, for fiat, there should be a cost basis of $400. Let’s say I immediately transfer that to coinbase and cash out for fiat. Is that now capital gains tax? If so, why and how?