Filing taxes and bitcoin? - page 2. | Bitcointalksearch.org

chaser15

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Quote from: ge96 on April 08, 2017, 07:38:37 AM

I'm not sure if what I'm doing is trading?

I've started buying small amounts of bitcoin through Coinbase and I"m just doing something simple like when my balance is more than what I purchased (bitcoin has gone up) I subtract what I'm over and send it over to a wallet.

I don't know if that makes sense regarding depreciation/value...

But that money I Just "made" what is that considered as for taxes? I don't know part of it too it's like "bitcoin can be not traceable" haha but I'm buying bitcoin through coinbase I have a trail and have no reason to use it anonymously so, I'm wondering how to deal with taxes. I doubt I'll make much either but I'm going to put some time in on writing scripts to grab data from random sites and maybe that will help me with figuring out when to pull out money/buy more.

So... what about taxes?

Thanks for any help.

Don't mind dealing with the taxes but mind dealing with the Coinbase fees.

Bitcoin exchanges like Coinbase deals with their taxes by themselves and you as their client are facing their fees. So in other words, the fees they are collecting are part of those amount that will turned as a tax. Just use your bitcoin freely without any worries as long as you are dealing in a good services and not a shit one.

Xester

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Quote from: ge96 on April 08, 2017, 07:38:37 AM

I'm not sure if what I'm doing is trading?

I've started buying small amounts of bitcoin through Coinbase and I"m just doing something simple like when my balance is more than what I purchased (bitcoin has gone up) I subtract what I'm over and send it over to a wallet.

I don't know if that makes sense regarding depreciation/value...

But that money I Just "made" what is that considered as for taxes? I don't know part of it too it's like "bitcoin can be not traceable" haha but I'm buying bitcoin through coinbase I have a trail and have no reason to use it anonymously so, I'm wondering how to deal with taxes. I doubt I'll make much either but I'm going to put some time in on writing scripts to grab data from random sites and maybe that will help me with figuring out when to pull out money/buy more.

So... what about taxes?

Thanks for any help.

It all depends on what country you are in. In our case the government is not placing a tax on the use of bitcoin or holding it. The only way the government collect taxes is through income tax and business tax of the exchangers that are also charged from the service fee when we do some transactions. So if your country is placing tax on bitcoin then just pay them so that you can continue enjoy bitcoin.

ge96

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Merit: 0

I'm not sure if what I'm doing is trading?

I've started buying small amounts of bitcoin through Coinbase and I"m just doing something simple like when my balance is more than what I purchased (bitcoin has gone up) I subtract what I'm over and send it over to a wallet.

I don't know if that makes sense regarding depreciation/value...

But that money I Just "made" what is that considered as for taxes? I don't know part of it too it's like "bitcoin can be not traceable" haha but I'm buying bitcoin through coinbase I have a trail and have no reason to use it anonymously so, I'm wondering how to deal with taxes. I doubt I'll make much either but I'm going to put some time in on writing scripts to grab data from random sites and maybe that will help me with figuring out when to pull out money/buy more.

So... what about taxes?

Thanks for any help.

Topic: Filing taxes and bitcoin? - page 2. (Read 948 times)