Quote from: erpbridge on January 07, 2017, 04:49:10 AM

Quote from: vader18 on January 05, 2017, 01:34:54 PM

Hello, I bought about one hundred dollars worth a few months ago. I know I can buy things. Is it legal for me to sell back to coinbase. Im an American citizen. I'm not a merchant of any kind. Thanks.

Yes it is completely legal. If however you were from another country, then you wouldn't have been able to buy it in the first place. Coinbase just requires a verification for your payment information. I have it linked to my bank account to which it verified by sending a small amount of usd.

For people commenting about the taxes, thats another issue. Coinbase won't ban you if you don't pay taxes. The government will be the one taking action if you don't report your taxes.

coinbase is a good place to sell your bitcoins and the proceeds will go directly to the bank account you linked, however I think coinbase will report it to IRS, so you will have to report it in the tax return (like a stock sell). I don't know though what's the threshold amount they will report to IRS, anyone knows?