Quote from: Don Pedro Dinero on December 18, 2017, 06:03:24 PM

Quote from: sann111 on December 18, 2017, 05:31:18 PM

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 dont say which country you are from but in all countries I know you dont 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?