What about Bitcoin and taxes?

sam
Posts: 158
Joined: Thu Apr 06, 2017 7:32 am

What about Bitcoin and taxes?

Thu Apr 06, 2017 10:29 am

In the event that I just take out what I contributed, do I need to report/Pay taxes on that? I was under the impression you just pay taxes on the increases, not on your own asset?
cris
Posts: 112
Joined: Thu Apr 06, 2017 10:57 am

Re: What about Bitcoin and taxes?

Thu Apr 06, 2017 11:24 am

There might be some legal complications in the event you choose to walk away from paying your taxes. In 2009, the US Internal Revenue Service (IRS) released a report about tax applications of virtual currencies within virtual economies, arguing that taxpayers can receive income from a virtual economy and could be required to report it as a taxable wage. However, laws may vary from country to country so I would recommend to dig up what your law has to say.
alexa
Posts: 91
Joined: Tue Aug 22, 2017 12:57 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:41 am

if we talk about general property then we pay tax. So as bitcoin is your property if you received or send immense amount of money then you should pay tax
aaron
Posts: 89
Joined: Tue Aug 22, 2017 12:59 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:41 am

generally, pay taxes on money is common thing. It's for property safety purposes
smith
Posts: 75
Joined: Tue Aug 22, 2017 1:00 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:42 am

if you are just contribute, you just don’t need to pay tax . Either it depend on your amount.
louise
Posts: 80
Joined: Tue Aug 22, 2017 1:02 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:42 am

it's either depend on your country rules
rosie
Posts: 80
Joined: Tue Aug 22, 2017 12:46 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:42 am

as we know bitcoin that become a public eye in recent years ans most widely currency in world. We can take bitcoin as real currency that has some tax
allyn
Posts: 82
Joined: Tue Aug 22, 2017 1:04 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:42 am

On the off chance that you are a business paying with Bitcoin, you should report representative profit to the IRS
jane
Posts: 71
Joined: Tue Aug 22, 2017 1:05 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:43 am

In the event that you hold Bitcoins as a capital resource, you should regard them as property for tax purposes.
barkly
Posts: 73
Joined: Tue Aug 22, 2017 1:07 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:43 am

At whatever point bitcoin is purchased, sold, or exchanged, there are assess impacts.
evan
Posts: 86
Joined: Tue Aug 22, 2017 1:08 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:43 am

some time its taxable or sometime its not. it's all just depend on the amount you contribute
azura
Posts: 68
Joined: Tue Aug 22, 2017 1:10 pm

Re: What about Bitcoin and taxes?

Tue Oct 17, 2017 11:43 am

it all taxable

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