Do you have to pay tax on crypto if it was purchased under $10,000?

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Taxduck · Answer

You would pay CGT on both your examples as you purchased crypto for investment purposes and not to purchase to use to buy a personal use item. The second example is a transfer of crypto so is a CGT event. If you look at the example of using crypto as a personal use asset through the link you provided then to be a personal use asset you have to buy the crypto then use it in a short period of time to purchase a good or service.

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