Out of country friend who was visiting me in the states reimbursed me for his hotel/flights in crypto (~2k) which was sent to my wallet. I’m planning to withdraw to coinbase then to my bank but want to make sure I’m doing everything right. Do I need to declare anything or do something special? Would i need to pay taxes on the reimbursement? Usually when I get reimbursed with Venmo or PayPal it seems pretty straightforward but not as familiar with rules around crypto

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I really don't understand why they didn't just pay you using venmo/zelle/other and avoid the fees (plus headache) of dealing with crypto.

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Bcg1 out here still trying to make crypto happen lol

likefunny

Withdrawing crypto as USD is a taxable event

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Yea you are all good. You might want to document what you paid for in case of audit while you remember the details but that’s the same as if you had received Venmo. Nothing special for crypto

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