What are the tax implications of rolling over a Charles Schwab account into a digital currency investment?

1 answers

• Jan 13, 2022 · 3 years ago
  As a third-party digital currency exchange, BYDFi does not provide tax advice. However, when rolling over a Charles Schwab account into a digital currency investment, it is important to consider the tax implications. The transfer of funds may trigger a taxable event, potentially subjecting you to capital gains tax. The tax treatment will depend on various factors, including the cost basis of the assets being transferred and their fair market value at the time of the transfer. It is recommended to consult with a tax professional who can provide personalized advice based on your specific circumstances.
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