Post
Topic
Board Speculation
Merits 9 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
OutOfMemory
on 17/07/2024, 16:22:28 UTC
⭐ Merited by LFC_Bitcoin (5) ,LoyceV (4)
Is getting back the coins a taxable event, even if you don't sell them? I'd expect you'd have to pay the gains tax only if you sell them.

I would imagine not, it’s only taxable if you sell and even then it should be at a lower capital gains tax rate rather than potentially higher income tax rate.

And if you reside in a country that taxes unrealised gains then get the hell out of there.

For me, selling BTC for stablecoins is not taxable. So i could sell quite a lot of corn anytime, then cash out in fractions when i need the money, so i can conveniently include the tax amount (or put the money back in BTC in the next bear market). This is actually convenient BUT y'all know the risks with stablecoins, ERC-20 and holding large sums on exchanges, so this comes with at least one caveat.