Quote from: rodel caling on September 11, 2019, 10:05:57 PM

Quote from: kunkelast on August 29, 2019, 01:06:07 PM

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?

If you're US citizen as I know and coinbase and bittrex user if I'm not wrong both exchnage asking kyc and derictly reported to IRS all US citizen who have an bitcoin are subject to pay tax. So it's you can't ignore that regulation because US file to you an criminal case if ignore it.

Well, that is right. Well maybe if you are from the country of US you should be worried about it but in other countries, there is no need to worry about your tax report because the government has no control in crypto so you don't need to declare it to them. The only fee that you are going to pay is when you are going to withdraw your money from remittance and consider as a fee or tax for me. Luckily, here in my country reporting tax is not necessary when it comes crypto.