cryptocurrency
Can I turn cryptocurrency into giftcards without being taxed?
<p>Alright, so my idea is to trade crypto then turn it into giftcards since I don't have a bank account. I want to make sure taxes don't apple. Thanks for any help!</p>

<p>No.</p>
<p>This does not work. When the transfer your crypto in exchange for something else that is a taxable disposition of the crypto and any appreciation in value it has experienced is subject to capital gains taxation.</p>
<p>If you don't self-report it, you are committing tax fraud, for which there are significant civil penalties and potentially even criminal penalties.</p>
