Bitcoin and Crypto Taxes

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Roger Ver Interview: Roger's Crypto Portfolio, 28000+ Bitcoin transactions paid more than $1000 fees(!), Earning Interest on Bitcoin Cash, Pursio.io Lives on, Saint Kitts & Puerto Rico tax havens, CashFusion +Much More!

Roger Ver Interview: Roger's Crypto Portfolio, 28000+ Bitcoin transactions paid more than $1000 fees(!), Earning Interest on Bitcoin Cash, Pursio.io Lives on, Saint Kitts & Puerto Rico tax havens, CashFusion +Much More! submitted by ColinTalksCrypto to btc [link] [comments]

Roger Ver Interview: Roger's Crypto Portfolio, 28000+ Bitcoin transactions paid more than $1000 fees(!), Earning Interest on Bitcoin Cash, Pursio.io Lives on, Saint Kitts & Puerto Rico tax havens, CashFusion +Much More!

Roger Ver Interview: Roger's Crypto Portfolio, 28000+ Bitcoin transactions paid more than $1000 fees(!), Earning Interest on Bitcoin Cash, Pursio.io Lives on, Saint Kitts & Puerto Rico tax havens, CashFusion +Much More! submitted by ColinTalksCrypto to Bitcoincash [link] [comments]

USA Earned Income in Bitcoin & Income Taxes

For the bitcoin and tax geeks:
Hypothetical1: You live outside of the USA, have a job that pays you in bitcoin, you save in bitcoin and you pay income tax in the USA on said bitcoin income. To pay your income tax in USD requires you to convert part of your bitcoin savings to USD.
Question1: Would you need to pay a capital gains tax when you exchange bitcoin savings for USD to pay your USA income tax?
Question2: Would you have to pay capital gains tax in the USA if you bought another good or currency using your bitcoin in the case where bitcoin has appreciated since you earned it?
Question3: Same as 2, but what if the good purchased is priced in bitcoin?
Hypothetical2+Same Questions for comparison: Same USA tax framework applicability but instead not on bitcoin, but on standard currencies: You are an American citizen and taxed on your worldwide income. You live in a foreign country, and you earn income in that foreign country and paid income tax in the US on that GBP earnings. What are the responses for the questions above if you were earning GBP, and the pound appreciated vs the USD, would you pay capital gains in the US if you were to buy USD at some point in the future? What about just buying goods in the UK for GBP?
Thanks!
submitted by cookmanager to Bitcoin [link] [comments]

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Countries With 0% Tax On Bitcoin/Cryptos Earning: Live a Tax-Free Life

Countries With 0% Tax On Bitcoin/Cryptos Earning: Live a Tax-Free Life submitted by chromoz to btc [link] [comments]

Has anyone actually filed their capital gains tax on bitcoin earnings yet?

Finally sent my complete transaction history and running ledger over to my CPA.
submitted by qoloku to Bitcoin [link] [comments]

The IRS is cracking down on people who didn’t pay taxes on Bitcoin earnings

The IRS is cracking down on people who didn’t pay taxes on Bitcoin earnings submitted by leftok to atbitcoin [link] [comments]

The IRS is cracking down on people who didn’t pay taxes on Bitcoin earnings

The IRS is cracking down on people who didn’t pay taxes on Bitcoin earnings submitted by HardAzRockz to TopTechNews [link] [comments]

Earning Bitcoin as income and tax

Apologies for another post about tax on bitcoin but I feel my case may be a bit different to the norm.
I'm a computer science postdoc and I was paid by a cryptocurrency to optimise their mining algorithm last year and some other things. I was paid for these jobs in altcoins which I converted to bitcoin. More out of laziness than anything else I have not touched the bitcoin so far however with the recent colossal rise I would like to cash out a portion.
I am quite confused by the taxes I must declare on this. Documents I have read state that cryptocurrency does not fit clearly into any particular bracket. What I am worried about is that I will have to pay both income tax (on the original payment) and capital gains tax (on the appreciation since then), which of course would deplete the holdings quite a bit, is that true or do I just pay one or the other?
Also I wonder what my bank will think about this, however I assume that it is a seperate issue.
submitted by btc_uk_123 to BitcoinUK [link] [comments]

Countries With 0% Tax On Bitcoin/Cryptos Earning: Live a Tax-Free Life

Countries With 0% Tax On Bitcoin/Cryptos Earning: Live a Tax-Free Life submitted by chromoz to Bitcoin [link] [comments]

[Business] - Gov't to Whack 10% Tax on Bitcoin Earnings | Chosun Ilbo

[Business] - Gov't to Whack 10% Tax on Bitcoin Earnings | Chosun Ilbo submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

[Business] - Gov't to Whack 10% Tax on Bitcoin Earnings

[Business] - Gov't to Whack 10% Tax on Bitcoin Earnings submitted by AutoNewsAdmin to CHOSUNILBOauto [link] [comments]

What’s the tax implications on bitcoin earned through gambling?

Say i was to buy 1 bitcoin when rate is £5,000/btc, and use one of the online betting sites that accept btc to bet and manage to double my holdings. I then sell one of my bitcoins at the same rate of £5,000. Would I be liable to pay tax on my 2nd bitcoin (that I won on my bet).
I imagine that if I held it for 6 months during which the rate increased (say to £10,000) and sold then, then I would likely be due to pay tax on that £5000 profit (wrongly might I add!)
But what if the bitcoin price stayed the same? How would our old friends at HMRC view this scenario?
submitted by iReallyHateSoup to BitcoinUK [link] [comments]

South Africans Instructed to Pay Tax on Bitcoin and Cryptocurrency Earnings

South Africans Instructed to Pay Tax on Bitcoin and Cryptocurrency Earnings submitted by leftok to atbitcoin [link] [comments]

South Africans Instructed to Pay Tax on Bitcoin and Cryptocurrency Earnings

South Africans Instructed to Pay Tax on Bitcoin and Cryptocurrency Earnings submitted by BTCNews to BTCNews [link] [comments]

India's Largest Tax Reporting Platform Helps Investors Produce Files on Bitcoin Earnings

India's Largest Tax Reporting Platform Helps Investors Produce Files on Bitcoin Earnings submitted by BusinessDigit to Cryptos_and_business [link] [comments]

02-01 04:02 - '"Most bitcoiners are learning how to get on [link] so now I will help you remain shackled; for **FREE**!!!" / Try marketing this directly to people who earn their money off of fed-guv. They're the ones who are taxe...' by /u/DontWorryBeHappy32 removed from /r/Bitcoin within 255-265min

'''
"Most bitcoiners are learning how to get on [link]1 so now I will help you remain shackled; for FREE!!!"
Try marketing this directly to people who earn their money off of fed-guv. They're the ones who are taxed, and will benefit from this solution.
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Context Link
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unreddit undelete link
Author: DontWorryBeHappy32
1: w*w.*osthori*on*.com**ull**i*Boa*d.htm
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Tax progress boosts stocks; Bitcoin hits $10,000; Tiffany earnings

Tax progress boosts stocks; Bitcoin hits $10,000; Tiffany earnings submitted by BTCNews to BTCNews [link] [comments]

I paid a tax advisor online to clarify declaring my bitcoin related earnings in the UK

submitted by darkskiez to BitcoinUK [link] [comments]

Has anyone actually filed their capital gains tax on bitcoin earnings yet? /r/Bitcoin

Has anyone actually filed their capital gains tax on bitcoin earnings yet? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Hypothetically, Could the US Government tax Bitcoin earnings 99.9%? /r/Bitcoin

Hypothetically, Could the US Government tax Bitcoin earnings 99.9%? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Turkey is going to TAX Bitcoin earnings

Turkey is going to TAX Bitcoin earnings submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Cryptocurrency Tax Webinar: How to Avoid the IRS  CoinTracker How to Earn and Withdraw Bitcoin From adBTC New Tripler Bitcoin Earning Site 2020  Triple Bitcoin Earning Site  CoinPay3x Website Full Review Taxes on Bitcoins The Best Crypto-Related Tax Advice I Could Ever Provide

The reason that buying and selling crypto is taxable is because the IRS identifies crypto as property, not currency. As a result, tax rules that apply to property (but not real estate tax rules) transactions, like selling collectible coins or vintage cars that can appreciate in value, also apply to bitcoin, ethereum, and other cryptocurrencies.. To no one’s surprise, the IRS isn’t kidding Reaping Bitcoin gains is nice, but paying taxes is less so. The tax basis is the same as it was in your hands when you made the gift. However, keep in mind that to avoid income taxes, a gift Bitcoin can be digitally traded between users and can be purchased for, or exchanged into, U.S. dollars, Euros, and other real or virtual currencies. Tax Consequences The sale or other exchange of virtual currencies, or the use of virtual currencies to pay for goods or services, or holding virtual currencies as an investment, generally has tax There's a lot of confusion around how bitcoin is taxed, but there needn't be: Crypto assets like bitcoin enjoy remarkably favorable tax treatment from the IRS. Reporting cryptocurrency is similar to reporting a stock sale. You'll need to report your cryptocurrency if you sold, exchanged, spent or converted it. When it comes to hard forks and airdrops, you only have taxable income if it results new cryptocurrency. You have to do this for every trade you mad...

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Cryptocurrency Tax Webinar: How to Avoid the IRS CoinTracker

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