Anyone use a DEX to trade? Is every trade a taxable event? How do you figure out the tax? E.g., if you buy 5 BTC (41k each e.g.) using USDC, and then sell 2 BTC (45k each) for the equivalent of 45k in XLM 2 weeks later, how do you estimate your tax

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USDC to BTC you won’t pay any tax as there wouldn’t be any capital gains. BTC to XLM you will have to pay tax on the 8k that you made on the 2 BTC you converted to XLM. Since it is a short term gain, expect a higher tax rate than the standard 15% for long term gains.

Thanks. Why wouldn't there be any tax on USDC to BTC? because it's a stablecoin (as good as USD)? Will it be a different case if instead of USDC the swap was MATIC to BTC and then to XLM?

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