I have purchased BTC and ETH on a US Exchange in USD over the past year. I have withdrawn to USD and completed taxes with Koinly without problem. I will now be in Europe for extended business and I may wish to move some of my crypto to a European exchange so that I can withdraw some of my BTC/ETH to my European bank account in EUR. How will this show up for taxes next year? Does this just show like any other withdrawal for US tax purposes, or are there any special considerations since it will be taken out as EUR and used in Europe?
Hello,
It makes no difference actually. The action of purchasing crypto then moving it to a European exchange, selling it, then receiving Euro is taxable. So you would proceed to file it like you do at home, and that’s my best answer. But you should always speak to a local tax specialist in your area to get specifics on how you can proceed with filing and the regulations where you are, they might also have some tricks up their sleeve that could save you money or time.
Kind regards,
Anakin
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