Post
Topic
Board Legal
Re: tax. questn
by
sann111
on 18/12/2017, 18:50:42 UTC
Are you suppose to tell tax people that you bought the coin? If so, after spending how much of your own dollar?
And after making how much money?


You don’t say which country you are from but in all countries I know you don’t have to tell the tax people that you have bought, you only tell them when you sell, so to speak. They will charge tax on your profits when converted to your fiat currency again.

There is one exception in my country. If your bitcoin investment grows higher than 700.000€ they will charge tax as well. It is called a tax on net worth.


I am in USA. What is the policy here? How to avoid tax?