I’m sure everybody loves paying taxes, but I am no expert but say with this current drop In price if I moved bitcoin outside of the US and to an El Salvador wallet, would that be saving on the future sale of bitcoin or what would that look like for capital gains?
I’m asking for a friend, I already lost all my bitcoin in a boating accident.
Capital gain is capital gain, you're only delaying paying the tax by moving it to an El Salvador wallet but you'd still be required by law to declare that gain once you take it out in the US and thus pay the tax accordingly.
It is unclear how tax operates in many countries because it is so new and no government have yet taken the time to put an infrastructure in place for this. The best example is to ban crypto or BTC like China but that is not solving anything, it only delays the problem.