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Thoughts about taxation of bitcoin "profits"?
It seems that many countries are introducing some kind of capital gain taxes for bitcoin. For example, you can hold for a long time and convert it to a fiat currency. You may be required to pay 10%/20%/etc. of that value in tax when you do that conversion. Will this get sorted out in the future so that bitcoin will be treated like any other currency or will it get worse? For example, if taxes become very high, it might be more profitable to sell early rather than wait for the growth. submitted by /u/JohnnyDazzle3000 [link] [comments]
It seems that many countries are introducing some kind of capital gain taxes for bitcoin. For example, you can hold for a long time and convert it to a fiat currency. You may be required to pay 10%/20%/etc. of that value in tax when you do that conversion.
Will this get sorted out in the future so that bitcoin will be treated like any other currency or will it get worse? For example, if taxes become very high, it might be more profitable to sell early rather than wait for the growth.
[link] [comments]
