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New Member
posted Apr 17, 2023 9:38:14 PM

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?

Hardware wallet

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1 Best answer
Expert Alumni
Apr 19, 2023 7:07:30 AM

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.

1 Replies
Expert Alumni
Apr 19, 2023 7:07:30 AM

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.