4 ms·
Well, in the US, bitcoin is classified as a taxable asset, just like a stock. So, if you use those bitcoin to buy anything, and you're income is above 40K sing
by throw8383833jj 4y ago
Well, in the US, bitcoin is classified as a taxable asset, just like a stock. So, if you use those bitcoin to buy anything, and you're income is above 40K single or 80K as a couple, you'll get hit with a 15% federal "capital gains" tax.
I would assume this is not the case in El Salvador and many other countries.
- xsmasher 4y ago15% on the "gain" - on the difference between the price you paid and the price when you sold. What a hassle to track.
- version_five 4y agoThat actually seems like a real benefit of a platform that handles all your transactions for you, and presumably can automatically calculate your tax owed (or loss).