Taxes on Bitcoin and Other Cryptocurrencies in 2020, Tax ...

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How are Bitcoin profits taxed in India?

How are Bitcoin profits taxed in India? submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

What are some of the good and bad things that would happen to a country if they didnt charge tax on bitcoin profits?

submitted by undadatunda to BitcoinCA [link] [comments]

Can I "spend" my current holdings while profits are lower into a hardware wallet and just pay the taxes for 2020? (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

[Florida] I make $146,000/yr purchasing digital product keys with bitcoin in bulk - and selling for massive profits. Do I need a tax attorney?

I started this "side hustle" about a month ago and it has turned into something massive. I want to pay my taxes properly. However, upon further research, H&R Block preparation services are not equipped to properly file this type of crypto tax.
I purchase the digital software key (which I am authorized to sell by the software developer) in bulk for $15 a piece with bitcoin ($4,500 worth at a time). I then sell each key for $26 USD. I made $400 today and around that amount every day now.
$400/d x 365d = $146,000/yr
Do I need a tax attorney?
submitted by BIG_MONEY_BITCOIN to Ask_Lawyers [link] [comments]

Considering selling my bitcoin at a profit. I have questions about income tax logistics.

Kind of a newcomer here and don't really feel like I know what I'm doing. Hoping you all can help. I’m 29 years old and in grad school. I bought ~1 bitcoin in 2016 for about $600. Considering selling part or all of it at a current price of ~$11-12k. Here's what I’m thinking: I’m in grad school right now with no income, graduating soon. In 2021 I will be employed, making a ~50-60k salary. If I sell bitcoin now, income tax in 2020 will be much less than if I sell in the future when I’m employed. Am I thinking about this correctly?
Also I should mention that I am hopeful that bitcoin will continue to increase in value with time. If I were interested in buying back later or immediately, is there any advantage to selling it all first, paying the income tax on it, and then buying back in (likely for less than the 11-12k I have now, that seems like too much to keep in such a volatile holding)? Would that keep me from paying a heftier income tax on it later?
Also I don’t really know anything about how bitcoin or cryptocurrency profits are taxed, so even some basic introductory info in that regard would be super helpful. Thank you so much in advance.
Last thing: I am on Medicaid and plan to stay on medicaid in 2021 until I get insurance through work. I would like to only sell enough bitcoin to make neaunder the minimum to keep my Medicaid benefits.
submitted by treboryot to personalfinance [link] [comments]

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law submitted by swiftestcat to btc [link] [comments]

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law submitted by Ranzware to BitNewsLive [link] [comments]

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law

submitted by raaner12 to Altcoinss [link] [comments]

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law submitted by cryptolobe to cryptolobe [link] [comments]

Bitcoin: South Korea to Start Taxing Bitcoin Profits in 2021, Bitcoin Suisse Users Can Now Trade Gold and Silver Against Bitcoin, 50 BTC From February 2020 Moved For The First Time In More Than 10 Years, The Post-Halving Bitcoin Era Will Be Unlike Any Other / Biweekly update 17th May — 31st May

Bitcoin: South Korea to Start Taxing Bitcoin Profits in 2021, Bitcoin Suisse Users Can Now Trade Gold and Silver Against Bitcoin, 50 BTC From February 2020 Moved For The First Time In More Than 10 Years, The Post-Halving Bitcoin Era Will Be Unlike Any Other / Biweekly update 17th May — 31st May submitted by paradigmfund to Paradigm_fund [link] [comments]

South Korea to Start Taxing Bitcoin Profits in 2021 (current BTC/USD price is $9,430.13)

Latest Bitcoin News:
South Korea to Start Taxing Bitcoin Profits in 2021
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

South Korea to Start Taxing Bitcoin Profits in 2021

South Korea to Start Taxing Bitcoin Profits in 2021 submitted by Ranzware to BitNewsLive [link] [comments]

South Korea to Start Taxing Bitcoin Profits in 2021

South Korea to Start Taxing Bitcoin Profits in 2021 submitted by n4bb to CoinPath [link] [comments]

South Korea Exempts Taxes On Crypto Profits, Google Deletes Then Restores Metamask and More by Bitcoin.com - Official Channel

South Korea Exempts Taxes On Crypto Profits, Google Deletes Then Restores Metamask and More by Bitcoin.com - Official Channel submitted by cashman04 to FindBacklink [link] [comments]

I’m not sure if no one knows... but the IRS tax form question about crypto. I’ve bought all year long. I exchanged some alt coins to Bitcoin when I did some real research in the beginning, but never profited in fiat. Do I mark yes or no - legally?

submitted by BlakeGarrison62 to Bitcoin [link] [comments]

In which OP is a low income student, with 750k in bitcoin profits, who thinks his dual citizenship will save him from paying US taxes

submitted by katiedid05 to bestoflegaladvice [link] [comments]

If you use Bitcoin as a payment solution, it is tax free in Denmark. If you sell for fiat (speculation) you pay 53-65% of your profit in tax.

submitted by Martin_Gormsen to Bitcoin [link] [comments]

Romania Imposes Bitcoin & Crypto Profit Tax at 10% Rate

Romania Imposes Bitcoin & Crypto Profit Tax at 10% Rate submitted by Irushrating to Bitcoin [link] [comments]

IRS Letter 6174-A: Bitcoin transactions w/ profit + loss in "closed" tax years?

I got Letter 6174-A from the IRS saying that I didn't report cryptocurrency transactions and that I need to refile.
From crypto, I had ~$4000 profit in 2013, and ~$4000 loss in 2014.
My accountant doesn't know what to do and is mildly freaking out. I am the only one of his clients to get one of these letters. Questions:
My accountant also suggests possibly finding a crypto tax attorney who specializes in tax crypto. But that seems like a big cost for little upside at the moment...
submitted by box_of_no_north to personalfinance [link] [comments]

Only 802 People Paid Taxes on Bitcoin Profits, IRS Says

Only 802 People Paid Taxes on Bitcoin Profits, IRS Says submitted by CryptoCurrencyNews to CryptoCurrency [link] [comments]

07-25 06:23 - 'DO YOU HAVE TO PAY TAXES ON EVERY SINGLE TRADE REGARDLESS OF PROFIT/LOSSES.' (self.Bitcoin) by /u/sugardaddy1269420 removed from /r/Bitcoin within 215-225min

'''
IM IN THE US BTW
'''
DO YOU HAVE TO PAY TAXES ON EVERY SINGLE TRADE REGARDLESS OF PROFIT/LOSSES.
Go1dfish undelete link
unreddit undelete link
Author: sugardaddy1269420
submitted by removalbot to removalbot [link] [comments]

Question about taxes: if I sell an alt for Bitcoin and then reinvest the Bitcoin into a different alt, do I have to report the profits for capital gains?

Just curious since the value was never converted to USD.
submitted by SupersoakerJones to CryptoCurrency [link] [comments]

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Bitcoin Profit Erfahrungen. Der erste Eindruck ist oftmals von entscheidender Bedeutung. Auf seiner Startseite spuckt der Bitcoin Profit nach Meinung der Kryptoszene Redaktion etwas zu hohe Töne.. Wenn man angehende Händler mit vermeintlichen Millionengewinnen lockt, dann muss man sich also nicht großartig wundern, wenn es immer wieder lautstarke Vermutungen gibt, dass Bitcoin Profit Scam ist. For example, if you purchased 10 bitcoin in 2015 for $300 each (cost basis of $3,000) and sold them in 2017 for $3,000 each (sale price of $30,000), you have a $27,000 profit. Because you held ... In the U.S., long-term capital gains tax rates are 0% for people with taxable incomes less than $78,750, 15% for single tax filers with taxable incomes between $78,750 and $434,550 ($488,850 for ... We get it — paying bitcoin taxes and other crypto taxes can be confusing. While we can’t give tax advice, we want to make crypto easier to buy, sell, and use. This guide is our way of helping you better understand your 2019 crypto tax obligations. There’s a lot of conflicting content out there, but make no mistake: you are required to report gains and losses on each cryptocurrency ... Calculate Cryptocurrency Taxes Easily File Your Bitcoin and Crypto Taxes. If you own or have traded cryptocurrencies, you may need to include these in your tax forms, even if you didn't make any money. Bitcoin.Tax is the most established crypto tax calculation service that can work out your capital gains and losses and produce the data and forms you need to file your taxes.

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DNA Money: Government to imply new tax rules for Bitcoin ...

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