Check out the IRS FAQs about crypto taxes

I've noticed tons of folks asking for tax tips and firing off questions. The problem is, some replies are just flat out wrong. Seriously, do yourself a solid and go through the IRS FAQs on crypto taxes over here. And remember the golden rule: don’t take tax advice from randoms online.

And don't forget the other golden rule. Consult a tax professional based on your needs. To this day I don't understand people who will drop $500 on a bottle of wine with dinner, but not $250 for a 1 hour consultation with a competent tax accountant. Seriously, it can save you time and money later. -Dave

And keep in mind the Michael Saylor playbook, you don't owe tax if you take a loan against your crypto instead of selling it.

It's very simple, we don’t even know if the answers refer to the same country and same taxation structures. So it really is hard to seek advice from everyone. Much better if you will seek and consult the tax professional so that they will guide you because they know more than us. I guess that’s the reason why some answered incorrectly as they assumed that all of the structures are the same. But they definitely don’t. Exactly, because they only based on what rumors they heard. Not on the fact.