Cryptocurrency Q&A
Is ETH to wrapped ETH taxable?
Is ETH to wrapped ETH taxable?
Sara
Thu Dec 26 2024
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6 answers
997
I'm wondering if converting Ethereum (ETH) to Wrapped Ethereum (wETH) is considered a taxable event. I need to know if this type of transaction incurs any tax liabilities.
6 answers
Enrico
Sat Dec 28 2024
However, there is some flexibility in how this transaction can be taxed.
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KimchiQueen
Sat Dec 28 2024
Treating wrapping staked ETH as a taxable event is considered the safest approach.
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CryptoProphet
Sat Dec 28 2024
This is because the blockchain records the exchange of ETH for cbETH.
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Valentino
Sat Dec 28 2024
This record serves as proof of the transaction taking place.
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Lucia
Fri Dec 27 2024
With the guidance of a crypto tax advisor, individuals may have options.
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