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re: Crypto and taxes.
Posted on 7/22/21 at 1:06 pm to Mingo Was His NameO
Posted on 7/22/21 at 1:06 pm to Mingo Was His NameO
quote:
quote:
Are federal taxes required to be paid on the $20K of USD appreciation?
Yes
quote:
Does it matter that the Bitcoin was never converted to USD before the transaction was made with the dealership?
No
If i convert my money to pesos and a year later back to dollars, i would have to pay taxes if there were gains in the currency exchange?
2
Posted on 7/22/21 at 1:08 pm to meansonny
quote:
If i convert my money to pesos and a year later back to dollars, i would have to pay taxes if there were gains in the currency exchange?
If the answer is yes, can you declare losses in Mexico?
Posted on 7/22/21 at 1:28 pm to meansonny
quote:
If i convert my money to pesos and a year later back to dollars, i would have to pay taxes if there were gains in the currency exchange?
Do you even IRC Section 988, baw?
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