・3 min read・#taxfunction
IRS Says That Like-Kind Exchanges Were Never Allowed for Bitcoin, Ether, and Litecoin
Tax law prior to January 1, 2018 allowed taxpayers to defer capital gains tax
when one type of property was exchanged for a similar type of property (also
known as a Like-Kind Exchanges
[https://www.irs.gov/businesses/small-businesses-self-employed/like-kind-exchanges-real-estate-tax-tips]
). Some cryptocurrency holders attempted to apply like-kind exchange treatment
to crypto-to-crypto trades in 2017 and earlier in an effort to delay capital
gains tax. A new IRS memorandum issued on June 18, 20
