Ripple (XRPUSD)

[stockvaper]

When you sell crypto for fiat currency, you are taxed on the value at which you sold it, net the amount for which you purchased it. For example, if you bought Bitcoin for USD 3,000 and sold it for USD 6,000, you are taxed on your capital gains profit.

Transferring crypto between any of the wallets or exchange accounts you own is not a taxable event, as long as you do not trade them for another crypto or to fiat currency when you transfer the assets. For example, if you transferred Bitcoin between your Exodus wallet and your Binance exchange account, it is not a taxable event.

Giving crypto as a gift to another person in itself is not a taxable event as long as it is below the USD 15,000 maximum gifting threshold.

Many nore crypto transactions/questions answered below:

https://tokentax.co/guides/do-you-need-to-file-crypto-taxes/#:~:text=your%20tax%20liability.-,Transferring%20crypto%20between%20wallets%2C%20exchanges%2C%20etc%20(this%20was%20clarified,when%20you%20transfer%20the%20assets.