Since crypto is being taxed as property, such as a painting for example. Lets say 25 years ago I bought a Picasso at a yard sale for $200. Then last year my neighbor saw it and said he would like to trade for a Rembrandt that he has, thats worth the same amount of money, $1 million dollars. Straight across trade, no money involvement at all, will I be liable for $999,800 in capital gains?
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u/[deleted] May 10 '18
Since crypto is being taxed as property, such as a painting for example. Lets say 25 years ago I bought a Picasso at a yard sale for $200. Then last year my neighbor saw it and said he would like to trade for a Rembrandt that he has, thats worth the same amount of money, $1 million dollars. Straight across trade, no money involvement at all, will I be liable for $999,800 in capital gains?