Ok this is something that hits us all but when it comes to cryptocurrency there is a allot of uncertainty about how taxes will be enforced. There has been some news about different U.S. dollar amounts such as $10,000 at which taxes will be enforced or a certain amount of bitcoins traded such as 1 bitcoin at which taxes will apply. The majority of the news is based around cashing out on exchanges such as coinbase.
Based on what you have learned what do you think is the most likely scenario when it comes to cryptocurrency taxes in the U.S.?
Or comment on when do you think this will be clarified by the governing bodies?
Based on what you have learned what do you think is the most likely scenario when it comes to cryptocurrency taxes in the U.S.?
Or comment on when do you think this will be clarified by the governing bodies?
Paying taxes on crypto coins is normal in the country where I live. I also have no problems taxing my profits. Taxes are used to pay a lot of good things like roads, schools, etc. If you do not trade and leave your coins for over a year, they are even tax-free. It does not get any better. Also, do not forget that the blockchain forgets no transaction and you can track everything. So pay your taxes on it, should your country require it of you and have rest. This is my advice on the topic of taxes.
