Topic: Bitcoin TAX (Read 2713 times)
yeah i see, it is important to note that i never paid for any of my btc, i got them for free.
Hello i have a question, it is about taxation laws on bitcoin in CAN.
Do i have to pay tax on gift cards that i buy ? if so how does it work.
If i get the bitcoin by not buying it or mining it, but lets say as a gift or by gaming.
Do i need to pay tax on the goods i purchased with bitcoins.
very tricky situation we have here.
Do i have to pay tax on gift cards that i buy ? if so how does it work.
If i get the bitcoin by not buying it or mining it, but lets say as a gift or by gaming.
Do i need to pay tax on the goods i purchased with bitcoins.
very tricky situation we have here.
1. I don't know the law in Canada.
2. Would you live in Germany, it would be interesting.
- if you get 1BTC which is worth 100$ and dann sell it one year later for 200000$ -> not tax. Earlier than one year? -> 25% income tax.
- winnings from gamblings are tax free but private gambling is forbidden. (casinos owns the state) But if you play poker on poker stars (foreign country) they don't run after you.
So what would be if you got 1btc for 100$ and than through gambling you make it within 6 month to 2btc which is worth 400$?
But in your case I would not bother. It is not sooo much money and can always say you did not know...
I don't even know how one would file that, is there a section for BTC? Anyway don't bother.
yeaas i understand, but if i was to report it would be under income section
can law requires tax on bitcoins, btw
since i basically got these btc from a faucet and then gambled to 10 btc
should i report this as income .
since i basically got these btc from a faucet and then gambled to 10 btc
should i report this as income .
Jesus lol
no need
it's 2 thousand bucks the tax people are not gonna hunt you down
spend it, rub it on your titties, give it to a homeless man.
can law requires tax on bitcoins, btw
since i basically got these btc from a faucet and then gambled to 10 btc
should i report this as income .
since i basically got these btc from a faucet and then gambled to 10 btc
should i report this as income .
The whole point of Bitcoin is to not pay taxes.
Except in the US because I always pay all taxes and sometimes a little bit extra for good measure. And I love the IRS because they are all great guys.
This. Why do you want to pay taxes on your hard earned coins? Except in the US because I always pay all taxes and sometimes a little bit extra for good measure. And I love the IRS because they are all great guys.
The whole point of Bitcoin is to not pay taxes.
Except in the US because I always pay all taxes and sometimes a little bit extra for good measure. And I love the IRS because they are all great guys.
Except in the US because I always pay all taxes and sometimes a little bit extra for good measure. And I love the IRS because they are all great guys.
I was speaking about this earlier with a buddy from Canada with gambling wins and he said if you are a recreational gambler and you do it for fun and not as a main source of income then you don't have to pay taxes.
If you are a pro poker player / gambler then you have to sort of declare some sort of taxes I believe
But, you're gonna cash out in GC's / cash anyway so eh don't tell mr tax man and you'll be fine.
If you are a pro poker player / gambler then you have to sort of declare some sort of taxes I believe
But, you're gonna cash out in GC's / cash anyway so eh don't tell mr tax man and you'll be fine.
I am not sure what you two are sying, i have gotten free btc from faucets, and turned into 1 btc via gambling.
i want to buy a gift card. do i include that on my tax when tax man comes.`
i want to buy a gift card. do i include that on my tax when tax man comes.`
did you include the $100 your grandma/parents gives you in gift vouchers inside your christmas/birthday cards each year???
its the same thing
poker stars and full tilt dont accept bitcoins,
if i was to get a 20btc profit from gambling and not buying any bitcoins do i report that as my income tax or capital gain..or none.
if i was to get a 20btc profit from gambling and not buying any bitcoins do i report that as my income tax or capital gain..or none.
i'd say if you made 500$ gambling with bitcoin, you can get away with not declaring it...
10,000$ of pure profit... not so much..
someone has to help.
poker stars and full tilt dont accept bitcoins,
if i was to get a 20btc profit from gambling and not buying any bitcoins do i report that as my income tax or capital gain..or none.
if i was to get a 20btc profit from gambling and not buying any bitcoins do i report that as my income tax or capital gain..or none.
Sites like Pokerstars and Full Tilt etc are offshore and I don't think Canadian players pay tax.
Grue even if you gamble offshore you dont need to pay tax.
correct me if im wrong,
correct me if im wrong,
what if i multiply that 1 btc to 20 btc. lets say i go on a "insane" run.
Then if you're in Canada you don't pay taxes on gambling wins.
Magazine correct, but on btc you have to pay tax.
so im in the middle on what to do.
so im in the middle on what to do.
what if i multiply that 1 btc to 20 btc. lets say i go on a "insane" run.
Then if you're in Canada you don't pay taxes on gambling wins.
what if i multiply that 1 btc to 20 btc. lets say i go on a "insane" run.
I am not sure what you two are sying, i have gotten free btc from faucets, and turned into 1 btc via gambling.
i want to buy a gift card. do i include that on my tax when tax man comes.`
i want to buy a gift card. do i include that on my tax when tax man comes.`
It's 1 BTC, I wouldn't worry mate.
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