Tuesday, May 18, 2021

[Tax] Earning Interest in Nexo and swapping.

I am on Nexo and suppose I had bought 200 Nexo tokens at a price of $1 several months ago. Today, Nexo tokens is worth $2.

Now suppose through my other cryptos that at the end of one month I earn 20 Nexo tokens and immediately swap 20 tokens for Bitcoin. Am I slapped with a taxable event because I swapped those 20 tokens due to the cost basis?


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