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The second option. I simply didn't notify anyone and so far no one asked about it. Maybe because the money came from Binance (crypto) they simply didn't bother

The second option. I simply didn't notify anyone and so far no one asked about it. Maybe because the money came from Binance (crypto) they simply didn't bother or something.

dewey 4y ago
> I simply didn't notify anyone and so far no one asked about it. That's not really how it works though. You are not supposed to wait for them to ask you about it, you declare it truthfully and otherwise it's tax evasion. Not sure if that applies for your case but that's how these kind of taxes usually work.
- Aachen 4y ago
  Sounds like GP basically walked out of a shop with goods in their bag and is now posting online how happily surprised they are it was free for a change. Yeah, if you don't go to the register then you don't pay. Until the day someone finds out.
  - samatman 4y ago
    Chewing bubblegum isn't a taxable event so I don't tell the IRS when I do it. Or giving my friend a drone for his birthday, if you prefer something closer to the topic. If selling ETH after holding it for a year isn't a taxable event in Germany, and it sounds very much like it isn't, on what basis should this be reported to the tax authorities?
    - p2detar 4y ago
      Actually, my not up-to-date info is that one is pretty much always required to declare the winnings of crypto sales in their Lohnsteuererklärung. Winnings below 600EUR or winnings for crypto assets sold after 1 year of possession are tax free. I have some crypto that I bought last year and some that I bought many years ago that don't have any transactions records for and now I'm lost at how to properly declare a sale. Honestly, the complexity of this is stopping me from doing more crypto trading.
      - SZJX 4y ago
        I doubt they will particularly care if you just honestly tell them how much you bought them for. Surely with all the potential means of acquiring crypto (from another private person even), you would not have to always show an exchange ledger to prove their value at the point of purchase? Many people would presumably be facing the same situation. Not sure if this would be a good reason to stop you, just my 2 cents.

The second option. I simply didn't notify anyone and so far no one asked about it. Maybe because the money came from Binance (crypto) they simply didn't bother or something.

dewey 4y ago

> I simply didn't notify anyone and so far no one asked about it. That's not really how it works though. You are not supposed to wait for them to ask you about it, you declare it truthfully and otherwise it's tax evasion. Not sure if that applies for your case but that's how these kind of taxes usually work.

Aachen 4y ago
Sounds like GP basically walked out of a shop with goods in their bag and is now posting online how happily surprised they are it was free for a change. Yeah, if you don't go to the register then you don't pay. Until the day someone finds out.
- samatman 4y ago
  Chewing bubblegum isn't a taxable event so I don't tell the IRS when I do it. Or giving my friend a drone for his birthday, if you prefer something closer to the topic. If selling ETH after holding it for a year isn't a taxable event in Germany, and it sounds very much like it isn't, on what basis should this be reported to the tax authorities?
  - p2detar 4y ago
    Actually, my not up-to-date info is that one is pretty much always required to declare the winnings of crypto sales in their Lohnsteuererklärung. Winnings below 600EUR or winnings for crypto assets sold after 1 year of possession are tax free. I have some crypto that I bought last year and some that I bought many years ago that don't have any transactions records for and now I'm lost at how to properly declare a sale. Honestly, the complexity of this is stopping me from doing more crypto trading.
    - SZJX 4y ago
      I doubt they will particularly care if you just honestly tell them how much you bought them for. Surely with all the potential means of acquiring crypto (from another private person even), you would not have to always show an exchange ledger to prove their value at the point of purchase? Many people would presumably be facing the same situation. Not sure if this would be a good reason to stop you, just my 2 cents.