Crypto and taxes

[Thanjay55]

Hi everyone,
I'm an American and I play on ignition. I've recently been running real good and just cashed out a significant (for me) sum of money. It's currently all in my coinbase acct but I'm wondering what to do about taxes when i convert back to cash and deposit in my bank account.
I know I could sit on the BTC but the market seems super volatile and I'd rather just have the money.

 

[CowboyStomp]

Try this link on Coinbase..

 

[perrypip]

Coinbase won't report it to the IRS unless its above a certain amount. But you should report it as gambling income.