If you transfer ETH from GDAX to Binance would you have to declare profits? Even if only a transfer and not actually a purchase of alts.

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A1- that is true in 2017. Trump blessed us with taxing earnings on exchanges of property. IRS classifies crypto as property

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No, only declare if the money ends up in your bank account

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Thanks

Even in 2017 (or earlier) it is a questionable loophole. The IRS offered little guidance on whether the 1031 like property exchange applied to crypto. They have since clarified that.

Thanks, not talking about buying alts, just asking if the transfer of ETH from my CB wallet to GDAX and then to Binance or elsewhere is taxable. Understood that the alt purchase is taxable under the new law.

Sorry didn’t read the whole question. Transfer shouldn't be a taxable event.

Cool, thanks

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