If I transfer BTC into my Coinbase account from a personal wallet, and then sell my BTC for Fiat/USD... am I subject to tax obligation?
If yes, how much? In other words, what type of taxation am I subject to?
Intuition says there is no tax, for this is not income, is this true?
If yes, how much? In other words, what type of taxation am I subject to?
Intuition says there is no tax, for this is not income, is this true?
Depends. As Fiatless says taxation is relative to the country you live in, but I can tell you that, in general, if you have received that amount of Bitcoin for work you have done, it should be subject to income tax. Also if when you sell it you obtain a profit with respect to the fiat countervalue at the time you were paid for the work done, it would also be subject to capital gains tax. The same applies if you simply bought it. If you make a profit on it when sold, it is subject to capital gains tax.
But as said this may vary depending on your tax residence, and there are for example minimum exemptions or other exemptions that may apply.
