Post
Topic
Board Altcoin Discussion
Re: do you guys pay Taxes for profit?
by
EchoZulu
on 28/02/2018, 17:41:27 UTC
I'm in Canada.
I didn't use an accountant, I just declared capital gains and paid tax on everything I sold to Fiat through Kraken or Quadriga, mostly because they know exactly who I am and I assume they will be reporting that to the government at some point.
I didn't report any altcoins trades that happened on sites like Binance or BitFinEx.
If you want to declare your gains from an ICO you should report it like any other trade - you are deemed to have sold Ethereum/Bitcoin when you payed into the ICO and bought Coin X, so gains on the Bitcoin/Ethereum are realized at that point.