Topic: What Tax Do you pay when exchanging Bitcoin ? (Read 932 times)
It really depends on what country you live in. Some places don't tax it at all, others do. Your best bet is to ask a local tax professional for help in determining your tax obligations.
when you did exchanged them? because in the past there almost no rule about bitcoin(but i think you should still declare them because of the amount, too big to be ignored)
besides this, every state has its own legislation, so it's not a fixed thing for everyone
besides this, every state has its own legislation, so it's not a fixed thing for everyone
Ok so for past year i have exchanged approx $300k worth of Bitcoin which directly went to my bank.
Now obviously i have had few concerns on what kind of tax i'm supposed to pay for it, do i just declare them as regulatory income tax?
Shed some light on this situation.
Thanks in advance.
Now obviously i have had few concerns on what kind of tax i'm supposed to pay for it, do i just declare them as regulatory income tax?
Shed some light on this situation.
Thanks in advance.
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