Quote from: SquirrelJulietGarden on Today at 04:08:21 PM

Quote from: NatureMoves on May 20, 2024, 06:16:27 PM

If bitcoin goes to $120k and I sell 2 whole bitcoins ($240k), how much tax will the government charge me if I live in Florida and only earn $50k a year? Angry

I don't live in the USA. and I can not answer this but you can find information from guide of IRS.
https://www.irs.gov/pub/irs-pdf/p17.pdf

I read in the forum that in the USA. you will be taxed like 30% or 40% from your profit of selling. Someone from this country can help you with more accurate information.

Does this Federal Income Tax have anything to do with "Selling Bitcoin for real estate"?

This is bad idea because real estates can be constructed with time but Bitcoin will have only 21 million bitcoins in total supply, no more. If you buy a real estate, hold it like 10 or 20 years, it will give you less ROI than holding your bitcoins 10 or 20 more years.

Planning to sell some of my bitcoin because I'm afraid of future regulations by the government. Shocked

But ofcourse, I'm not planning to sell all of them. Just want to diversify.