Im still learning how taxes work. I have no idea how Bitcoin made on signature campaigns would get reported for example, and if the taxes on that are different from the taxes of buying Bitcoin in an exchange and selling it. I also don't know if transactions between BTC and fiat back and forth or even between cryptos have a tax. Everyone says their own version of how things are. Financial advisors are clueless when it comes to Bitcoin. My logical conclusion is to keep holding it and not sell anything, and keep trying to improve your Bitcoin holdings for the future. Im scared that in the future there will be no money to pay for pensions for example, and BTC could be my savior from that, so im just keeping it and hoping it keeps going higher (as it should). I will bother with learning about taxes later, learning about BTC is time consuming enough. I have not done anything illegal to obtain my BTC so im not worried about that. I could prove if needed that I made them legally. You could show them for example that you posted here and got BTC, im not sure exactly how (maybe signing public addresses used to receive payments here for example). This is all too new and I don't want to be the first idiot that gets taken advantage of with their experiments in taxation so it's better to just hold it all for the time being and we'll see.
You are viewing a single comment's thread from: