💸Transfers

A transfer is a movement of crypto between your own accounts and wallets.

Tax Treatment of a Transfer

Transferring cryptocurrency tokens or coins between wallets or exchange accounts you own are nontaxable events as they are not dispositions of the token. These are considered as self-transfers and are like moving fiat from one bank account to another.

Transfers in Recap

Recap treats all deposits and withdrawals as transfers between your own accounts. There is therefore no change in beneficial owner and no tax impact. That said there is often a fee associated with withdrawing funds which is technically a disposal for tax purposes.

Example transfer in Recap