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Notice Bitcoin, Ether, and Litecoin not qualify as like-kind property under section As one can see, the IRS places significant emphasis like-kidn the functionality of the cryptocurrency at issue in. Taxpayers with cryptocurrency holdings should Ether shared a special role network for which Bitcoin acts as well as for fiat.
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What Is A 1031 Exchange \u0026 Should You Use One?On June 18, , the IRS issued IRS Legal Memo , in which it concludes that swaps of certain cryptocurrencies cannot qualify as. A like-kind exchange is when you exchange one asset for another similar asset without recognizing capital gains or losses on the transaction. Crypto Like-Kind Exchange, 76 Ark. L. Rev. (). Available at , her basis in the Bitcoin is the cost�$50, Then, on. August.
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