MultiversX Tracker is Live!

Looking for some peace of mind

Etherum Reddit

More / Etherum Reddit 84 Views

I just sold my ethereum after a little over a year of holding and made out with a pretty considerable profit. I intentionally timed it so I'd be in the long-term capital gains bracket. I moved my ethereum over to Coinbase to sell and accidentally "sold" it into USDC rather than USD. I immediately changed it to USD within the minute. I'm aware that every crypto swap is considered a "taxable event" and from my understanding you're just paying taxes on the gain between transactions. I should theoretically just be paying the long term gains on the first transaction of the ETH swap and almost nothing if anything on that split second where I switched between USDC and USD. I want to confirm this is the case and I didn't just somehow blunder the long-term as opposed to short-term capital gains tax.

Edit: Comments answered my concern. Thanks a lot.

submitted by /u/BrandanE_
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments