Post
Topic
Board Beginners & Help
Re: Tax Question, and where to find info question
by
Vcat500
on 13/12/2024, 10:24:35 UTC
Tax on any obtained profit resulted from   crypto related activity sell, exchange, pay for goods has to be paid in accordance with the regulation of the given country. Some countries exempts  matured  crypto i.e. crypto which is in users wallets for the long period of time while others don't allow any exemption. The attempt to hide your crypto-profit from taxation may result in the penalty, jailing including, similar to early BTC investor who was " jailed for unreported crypto gains in $4M BTC sale".

I get that, but we're drifting off topic. Since the broker is preparing your tax forms, The question is: How do they know what transfers to the exchange are classified as profit and what's classified as donation. There are no notes or memos transferred with the addresses.