# Transfers

![](https://3578954321-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FPxQfv0DcOQOVwZp3E7YI%2Fuploads%2FDW3UYARD2sZccHj13eFy%2FTransfers-US-Guide.png?alt=media\&token=1f94c2d1-9159-42b3-b4dd-c4f3aad9ec0e)

{% hint style="info" %}
A transfer is a movement of crypto between your own accounts and wallets.
{% endhint %}

## 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](https://recap.io/)

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](https://3578954321-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FPxQfv0DcOQOVwZp3E7YI%2Fuploads%2FanrA9YDMn0L6J8xui7oS%2FTransfers-in-Recap-US.png?alt=media\&token=78d47b25-ffde-443f-9bc9-4bba441456b8)