Koinly Counts Immediate Exchange as Taxable

Tax Questions
#1

Hi,

I purchased some Bitcoin to send to another exchange and sell for a stablecoin to purchase an alt coin. I was under the impression that as long as this purchase was for an immediate exchange, it should not count as a FIFO taxable event. Do I have a misunderstanding? If I’m correct, how can I get Koinly to disregard this as FIFO taxable.

Thank you kindly.

#2

Hi,

Please share which country you are filing in when asking a tax question :slight_smile:

#3

Good point :smile:. I live in the USA.

#4

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