Author Topic: Using an Exchange Like Coinbase for Pass-Through BTC to Fiat Transactions?  (Read 38 times)

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If I sell my used car for fiat currency in my state there are no sales taxes.

I assume that if I sell my used car and the buyer pays with BTC which I convert to fiat via Coinbase for further deposit into my bank account, my only tax liability would be the slight difference in cost basis from when I deposited the BTC and when I withdrew it (providing that BTC went up of course).

Is this how you would convert BTC into fiat for sales of goods?