2014430

If I didn't sell or convert any crypto, but I did buy some and someone sent me some, does that count as "acquired"?

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If I didn't sell or convert any crypto, but I did buy some and someone sent me some, does that count as "acquired"?

Yes, that does count as acquired. However, only acquiring cryptocurrency does not generate a taxable or reportable event.

If you sell, convert, or spend cryptocurrency, then there is a transaction to report on your tax return.

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