Topic: Selling ETH to friend to save on taxes and Coinbase fees? (Read 121 times)
IF you transfer the ETH to him, and he hands you cash, the IRS would have no idea you made money, and whiel you would be required to claim it on your taxes, the IRS would have no idea the event ever happened. However if you took that cash and started depositing it on a regular basis, your bank might flag your account for review and you could be expected to claim the income.
Hi All,
I am a miner. I have a friend that wants to buy ETH.
Is it wise to sell ETH that you earn from mining to a friend to cut down on taxes, and to save them from the fees on Coinbase? Or, is it messy to do it this way?
I am a miner. I have a friend that wants to buy ETH.
Is it wise to sell ETH that you earn from mining to a friend to cut down on taxes, and to save them from the fees on Coinbase? Or, is it messy to do it this way?
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