Question about Taxes in the US with cryptocurrencies transfering from abroad

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Question about Taxes in the US with cryptocurrencies transfering from abroad

Hello,

I am planning to open a bank account in the US from abroad. I would like to know if the following process is considered taxable by the US tax system or not:

  1. I Buy 1 ETH for 1.000 E$ (Let's assume $E is the currency in my country) when the market price of it in USD is 3.000USD at that time.
  2. I sell 1ETH for 3.000 USD.
  3. I transfer 3.000 USD from selling this asset to my US bank account.

Will I have to pay any taxes even though I didn't make any gains? (basically, I am just using crypto to transfer money from one country to another timely and cheap).

submitted by /u/RealDopamine
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