Post
Topic
Board Legal
Re: Should I worry about my tax report?
by
DoublerHunter
on 06/09/2019, 14:33:21 UTC
I've seen this news recently: https://www.investopedia.com/news/bitcoin-tax-looms-irs-orders-coinbase-turn-over-user-data/ And now I'm worried about my tax report for the next year. I've bought 1 Bitcoins at Coinbase last February and I still hold them. Should I report this as my asset? Or should I just ignore it?
^ The question is, is crypto in your place are taxable? If you are still holding that bitcoin until now in your wallet there's nothing to worry and tax reporting to them is not necessary. You can hold it as long as you can and they have nothing to do. But when you convert it into fiat and cash out I think there's a fee but not consider as a tax.