Quote from: iram3130 on August 08, 2017, 03:11:15 PM

Quote from: chaosfourever on August 08, 2017, 02:54:38 PM

Do I need to pay taxes if I sell an alt coin for bitcoin then rebuy a different alt coin. I never took out actual USD so I am unsure how that would work. Or am I only taxes on actual USD made when I cash out?

It actually depends on how you are selling your bitcoins. It depends on whether your local exchange includes taxes on your buy/sell. If I need some money then I sell my Bitcoins to my close friend and he pay me in cash so I don't pay any taxes right now.

It is a good idea when we buy and sell bitcoin without paying taxes, in my country there is no need to pay taxes when buying or selling bitcoin because my country prohibits bitcoin and we have a place (website) to buy and sell Bitcoin like you say