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April 18, 2023
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I transferred Bitcoin from an exchange to a hardware wallet which I still own. My exchange API is showing this as a withdrawal and taxable. Should I delete this entry?

  • April 18, 2023
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Hardware wallet
Best answer by JamesG1

This IRS website states:

 

A38. No. If you transfer virtual currency from a wallet, address, or account belonging to you, to another wallet, address, or account that also belongs to you, then the transfer is a non-taxable event, even if you receive an information return from an exchange or platform as a result of the transfer.

1 reply

JamesG1Answer
April 19, 2023

This IRS website states:

 

A38. No. If you transfer virtual currency from a wallet, address, or account belonging to you, to another wallet, address, or account that also belongs to you, then the transfer is a non-taxable event, even if you receive an information return from an exchange or platform as a result of the transfer.

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