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I converted X ETC to Y ETH, which I immediately sold (on Coinbase) for Z USD.

For IRS purposes, are these one sale or two?

If they're two sales, then the gain is the ETC->ETH, I think. (The ETH->USD has almost exactly zero gains, but maybe not quite exactly zero.)

Note that if Coinbase reports this, they'll report the sale of ETH (they don't know anything about the ETC). I don't want my story to look inconsistent with theirs!

  • For 2017 tax purposes, or did you just make the sale and wondering for 2018? – Hart CO Mar 25 '18 at 20:04
  • This is for 2017. I think I'll report it as two, but one still seems kinda reasonable. – DavidC Mar 25 '18 at 20:17
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Definitely two. And as you say, the second sale probably has little to no gain. In fact, it likely has a capital loss, if there were any transaction fees.

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