The following post by btctaxes is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/r/ Bitcoin/comments/d1t9h5
The original post's content was as follows:
Hello everyone
I have been buying BTC from Coinbase and then storing them in a hardware wallet. I have a personal emergency and want to encash the stored BTC, by bringing it back to Coinbase and converting to cash.
Can someone guide me on the tax implications? How is it calculated in this situation?
Also would appreciate any online software to help me estimate BTC tax implications and any US based tax consultants/CPAs who specialize in BTC for a paid tax consultation.
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