From what I have heard from crypto people in the US, you have to pay for capital tax gains if you purchased crypto and made profits from it then you should really try and get it done as quickly as possible so they don't come to you later on. In other countries filing for capital isn't that necessary or not even required but in US, its mandated. I know there's a way to waiver it or reduce it but I'm not sure how. Maybe someone in crypto based in US can clarify more
Unfortunately I don't have friends in the US, so I can't find out more about this, and if it's something that crypto players have to obey, then it's okay to follow the rules that have been made, because in my country, it does not apply. 
Topic: Selling Ethereum (Read 385 times)
If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.
In each country the regulations and taxes for different things are different mate. If you are not sure what to do, you better consult a professional accountant.
This can save you a lot of headaches and even tax trouble, which are very sensitive to the crypto world these days.
Of course, everyone has to pay taxes. However, the cryptocurrency space is free. And there are no regulators. So why pay taxes in a decentralized environment? I am more than true that there are companies in the USA that are willing to pay cash for cryptocurrency.
Of course, if you are making a big return on investment, you should better study your country's legislation. That would not break the laws.
Of course, if you are making a big return on investment, you should better study your country's legislation. That would not break the laws.
If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.
I sold some ETH and will likely sell more during the ETH 2.0 hype. I used the funds to buy NEAR.
Every coin who has it's own blockchain we should keep some of these coins for future transfer from their wallet because these types of coins will definitely will gain in prices. Ethereum has its own blockchain with real use case. We can sell some part of Ethereum if anyone holding many Ethereums. Eth has been a great coin in past time and I hope this will be much more in future. So its up to traders or investors want to sell or hold.
I don't think this is the right time to sell your ETH, but holding or buying is a very good decision right now, because the price of the eth is dropping drastically, I am sure that in the next few months etherem will rise again and be able to touch its new ATH, hopefully you are not wrong in making decisions,,,,,
right, the action that should be done, because ethereum has just reached its ATH must experience a very sharp decline even to reach 40% of the ATH that was recently received.Of course this is definitely a big blow from ethereum because the upgrades received are not too long. I agree if you really want to buy it is the best option because renewable ATH will be created again.
I think he is doing goods. I guess he wants to get back his initial investment for safety reason and left the remaining funds to hold or trade it. I think it's a smart choice as ETH are not stable right now.
I do this sometimes when my profit is like x2 or x3. I withdraw my initial investment and left the remaining funds to invest in another altcoin.
it's true what you said that ethereum is unstable at the moment, but not just ethereum but all of them have had a very deep correction and all are experiencing it. so it's a natural thing because everything is at its lowest point.I do this sometimes when my profit is like x2 or x3. I withdraw my initial investment and left the remaining funds to invest in another altcoin.
whatever you do may be right but right now everything is down and so are altcoins, but if you want to move to altcoins there is nothing wrong because the same will also increase when bitcoin, ethereum increases.
I wonder how tax in crypto works, does it have tax every trades that we got profits ? how if we take another trades with the profits we made before and at the end we loss, does the tax is still charged ? i think it's more fair to calculate all the profits by the end of the year rather than taxed every trades
It is best to consult a tax accountant about that rather than posting it here in this forum. Each country has their own tax rule especially in crypto and most users here might have just googled their answer to share their opinion. The only one who can assist you better here will be an expert.
I don't think this is the right time to sell your ETH, but holding or buying is a very good decision right now, because the price of the eth is dropping drastically, I am sure that in the next few months etherem will rise again and be able to touch its new ATH, hopefully you are not wrong in making decisions,,,,,
I think he is doing goods. I guess he wants to get back his initial investment for safety reason and left the remaining funds to hold or trade it. I think it's a smart choice as ETH are not stable right now.I do this sometimes when my profit is like x2 or x3. I withdraw my initial investment and left the remaining funds to invest in another altcoin.
If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.
No, because there are no tax rules for that, and recently I read that if a YouTube user has a special income, he will be taxed if the user lives outside the Americas, now that's not the case for crypto.From what I have heard from crypto people in the US, you have to pay for capital tax gains if you purchased crypto and made profits from it then you should really try and get it done as quickly as possible so they don't come to you later on. In other countries filing for capital isn't that necessary or not even required but in US, its mandated. I know there's a way to waiver it or reduce it but I'm not sure how. Maybe someone in crypto based in US can clarify more
From what I have experienced so far, I have never been required to pay taxes on my crypto profits, it's just that there are fees that must be paid in every transaction I make. I'm also looking for regulations that say there is a tax on crypto income until now I haven't found it, but if there was, I as a tax-compliant person would still pay it.
It is because probably you're not living in the US. US residents are required to be taxed with each gain that they have in cryptocurrencies. The US government is very strict when it comes to taxation and that's why most of them are very responsible for filing their taxes and gains.I don't think this is the right time to sell your ETH, but holding or buying is a very good decision right now, because the price of the eth is dropping drastically, I am sure that in the next few months etherem will rise again and be able to touch its new ATH, hopefully you are not wrong in making decisions,,,,,
It's about his gains and being taxed with his gains. Whether someone has to sell or hold, if they're liking that action they do then that what must they do. It's not about his decision whether he'll hold or sell. 
I don't think this is the right time to sell your ETH, but holding or buying is a very good decision right now, because the price of the eth is dropping drastically, I am sure that in the next few months etherem will rise again and be able to touch its new ATH, hopefully you are not wrong in making decisions,,,,,
Now Ethereum price has dropped 39% from the ATH price reached 20 days ago, so based on that data means Ethereum is down very far right now.
Not a good decision to sell the Ethereum we have today, what needs to be done is not selling Ethereum but buying Ethereum which is what must be
done now. After all, Ethereum is one of the most popular and best altcoins in the crypto world. So it's a good decision to buy Ethereum at a low price
like it is now, because surely Ethereum will recover soon and can provide big profits. Or if we really don't have the money to buy Ethereum,
at least keep holding the Ethereum that we have today.
If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.
I don't think the USA will have such rudimentary tax management measures. Joe Biden is a tax expert. You will be choked if you ask about tax issues here. Better do the measures yourself and find out, I mean, everything it is sensibility!!!If you try too hard to play with taxes, your Social Security will be hard.
If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.
I secure my capital and enjoy the rest, that is my plan and that could be a sort of limitation. As it guarantees nothing in here, we have to be smart and take the opportunity while still there. May other people keep saying HOLD, well, I don't think so. I'm making myself secured because as these people get wrong their prediction, they won't help you instead, right? So I suggest to you is to do what you think is right, sell the half and secure your capital is a good idea. Don't listen to those you say just hold, they just want you to miss the opportunity and mess you up.
BTW, I'm not sure with the tax as in our country, it just free and we can move it instantly.
If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.
I think you will be taxed on the profit you made with your eth bag, although I'm not from the United States (US) like you, but have heard of several news about your government imposing a compulsory tax on all crypto returns, so there's a high chance you'll be taxed when you decide to cash out your profit to fiat. slap your self if you are selling eth below 10k, not financial advice
I'm not sure we are going to see it at $10k soon, so it's better he locked in on the profit he has made already, the market won't be bullish forever just so you know. If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.
Very good decision.when I see my capital is 2x or 3x profit from main capital then I take a decision to withdraw my main capital and it's a good idea for any new trader.cuse trade is always risk so after withdraw main capital any body can trade risk free. 
I don't think this is the right time to sell your ETH, but holding or buying is a very good decision right now, because the price of the eth is dropping drastically, I am sure that in the next few months etherem will rise again and be able to touch its new ATH, hopefully you are not wrong in making decisions,,,,,
So in the US every capital gain will be deducted to tax now ? Where did they know if this guy already get a capital gain ? He said that he only withraw it for $30k. Is the us base exchange track every user transaction at what price they bought ? And if this guy does not report to IRS wwhat happen ? And how much the penalty ? In my country there is no tax for crypto.
So, it means the anonymity of every person using or investing in crypto already gone. I don't understand, how they can get tax from a person who invest in crypto? I think through an exchange, if they withdraw, it will be trace automatically and tax will be deducted. In my country, there is also no tax for crypto.
I don't know how about taxation in the USA but for sure you are very fortunate with this, because you can already take the initial capital from what you invest.
I'm happy to read this and I will use it as my reference in trading here because honestly I can use this as my motivation in trading in altcoin
Yes, taking motivation from other people's words should be, if those words are good, you should also know about taxation because every country that applies taxes is also for the good of its own citizens, so don't just take motivation, but also take knowledge about others here. I'm happy to read this and I will use it as my reference in trading here because honestly I can use this as my motivation in trading in altcoin
I don't know how about taxation in the USA but for sure you are very fortunate with this, because you can already take the initial capital from what you invest.
I'm happy to read this and I will use it as my reference in trading here because honestly I can use this as my motivation in trading in altcoin
I'm happy to read this and I will use it as my reference in trading here because honestly I can use this as my motivation in trading in altcoin
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