Still searching for clarity and understanding, I'm sorry for my ignorance. I believe I have learned that the mere purchase of Bitcoin is not a taxable event. Here is my actual transaction, please help me understand how to report this. I use Coinbase to buy 50 dollars worth of Bitcoin which nets me 48.01 after a 1.99 fee. Now I have my 48.01 in BTC and I proceed to fund my sportsbook account. According to Coinbase I sent 47.57 to my acct and received 47.28. Do I only report the .29 as a loss? I'm not sure if only sent 47.57 instead of 48.01 because it lost value or possibly even left a few cents worth of BTC in my wallet. Either way those are the numbers and I'm still confused.
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