Usually i buy a few alt coins each month. I track all my buys with tax software koinly. Here is my question.
Usually i have to buy Bitcoin as a trading pair to get these alts i want. Everybody knows every time you sell bitcoin it's a taxable event.. so each time i buy these alts i'm getting taxed...or am i?
If i'm buying bitcoin and selling it straight away for an alt, the price will be relatively the same as when i bought it. I keep thinking i'm going to somehow get some huge tax bill, but i really shouldn't, right?
Can someone confirm this that is much more savvy with taxes than me.
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