Quote from: David Lee on January 10, 2018, 04:21:20 PM

Hi Guys.

I live in the united states but my citizenship is South Korea.
I've bought some BTC from Gdax, and found that the price in a Korean exchange market is really much higher.
So I've just sold it to the market in Korea, which doesn't impose a tax, and got some arbitrage profit.
After that, I transferred the profit from South Korea to the states and sold it again.

In such case, I'm not sure how to report to IRS. Also, I happened to notice that it could be regarded as "money laundering" but I'd like to ask your thought.

Please share your thought!

From the way I understand tax laws, you will have to report to the IRS and how to go about is normal about when you sell in the United States because that is the way its going to be interpreted you residence. Regarded as money laundering is to the extreme people that launder money won't bother to do the right thing like you wanted to do. All you did was identifying a market abroad that would give you a more decent return I haven't read any law against that but be sure to pay the tax on the entire income not on the amount you would have sold if you made it in the United States.

With that, I expect that everything should go the right way, there is nothing wrong in getting money from abroad just be sure you have an explanation for it and since tax arises, then that area has been covered.