I transferred Bitcoin from an exchange to a hardware wallet which I still own. My exchange API is showing this as a withdrawal and taxable. Should I delete this entry?

jmwaugh6 · ‎April 17, 2023

Hardware wallet

JamesG1 · ‎April 19, 2023

A38. No. If you transfer virtual currency from a wallet, address, or account belonging to you, to another wallet, address, or account that also belongs to you, then the transfer is a non-taxable event, even if you receive an information return from an exchange or platform as a result of the transfer.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

JamesG1 · ‎April 19, 2023

This IRS website states:

A38. No. If you transfer virtual currency from a wallet, address, or account belonging to you, to another wallet, address, or account that also belongs to you, then the transfer is a non-taxable event, even if you receive an information return from an exchange or platform as a result of the transfer.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

I transferred Bitcoin from an exchange to a hardware wallet which I still own. My exchange API is showing this as a withdrawal and taxable. Should I delete this entry?