Hey
How do you calculate taxes on alt-coins bought and sold with Bitcoin? For example if i bought 10 bitcoins worth of Monero, and monero rose 10% and i decides to sell for that extra bitcoin, how does that become taxed? Furthermore if/when i decide to sell the 11 bitcoin i now have for fiat, how might that be taxed? Thank you in advance.
I think there is nothing like the tax to make deals in the bitcoin or altcoin . This is the quality of the bitcoin that have no tax and no more charge to use it by own .
But here if you will make study throughly about this then you will found that there is like a system that can force you to pay tax to the government .
Here I am saying that if you will make direct deal with your bank money to bitcoin at exchange then the bank or government laws will be applicable upon your bulk transaction and in that case you need to pay tax .
But if you will make small deals within range of 10-1000$ then I don't think that you need to pay anything like the tax .