Is buying bitcoin a taxable event

Bitcoin gold support

How long you owned it.

shilling crypto

Crypto Taxable Events Explained
Buying crypto with cash and holding it: Just buying and owning crypto isn't taxable on its own. The tax is often incurred later on when you sell, and its gains. The short answer is that exchanging one cryptocurrency for another cryptocurrency creates a taxable event and must be reported. However, not all crypto-to-. Paying for a good or service with crypto is a taxable event and you realize capital gains or capital losses on the payment transaction.