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Coinbase withdraws to other digital wallets are not taxable if you are not selling them to USD so why are they showing up as taxable transactions?

I didn't sell any of my crypto so they should not be reported as taxable income/losses.
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1 Reply
GeorgeM777
Expert Alumni

Coinbase withdraws to other digital wallets are not taxable if you are not selling them to USD so why are they showing up as taxable transactions?

Yes, that's correct assuming you were just moving your cryptocurrency from your account to a wallet and not selling it or exchanging it for another cryptocurrency.  Are these transactions on your 1099-B or similar form?  If so, you can report them with the cost basis equal to the proceeds so that there is neither a gain nor a loss.  If these transactions are on a form that has been filed with the IRS, which is likely, then you will need to report them. 

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