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Note that property inside the. Our opinions are our own. You could also miss key in any of those capacities taxes now rather than later.

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Because cryptocurrency is not real estate, section does not apply to exchanges of cryptocurrency assets after January 1, One member of Congress has. What is a Exchange? Like-kind exchanges, or LKEs, occur when you swap one investment property without changing the form of your investment. In other words. The IRS found that certain cryptocurrencies did not qualify as like-kind exchanges under section prior to the Tax Cuts & Jobs Act of

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IRS concludes Section tax-deferred "like-kind" exchange treatment is not available for cryptocurrency trades. According to the IRS, cryptocurrency, or virtual currency, is a digital representation of value and treats it as property rather than money. All rights reserved. If you receive a text message and choose to stop receiving further messages, reply STOP to immediately unsubscribe. Arguably, failing to allow deferral of taxation on a like-kind exchange � such as crypto-to-crypto until gains eventually are realized in a legal tender currency such as U.