4
votes
Accepted
US Taxable Events for using Bitcoin for purchases
HR 3708, which was introduced in the House of Representatives in September 2017, would do exactly that, with a threshold of $600 (to be adjusted for inflation). It has five cosponsors.
It was ...
- 23.1k
2
votes
If I send Bitcoin from the USA to a friend in India, do I have to pay capital gain tax on it if he sells it and makes a profit?
If this is a true gift, that is, not part of any larger transaction and given out of the kindness of your heart, then you're probably going to have to consult a tax professional because this will ...
- 51.7k
2
votes
Why do most trading platforms require ID Verification?
https://www.irs.gov/businesses/international-businesses/list-of-approved-kyc-rules
These are the KYC rules for each country. Do not let places take advantage of you. I had one trader ask for a phone ...
- 21
1
vote
Accepted
What is Operation Chokepoint 2.0?
It is a rhetorical reference to operation chokepoint
Unlike the original, there is no evidence that 2.0 exists as a named DoJ project.
The phrase "what many are calling" is also a common ...
- 28.5k
1
vote
US Tax: Does a wallet exchange "count" for tax loss harvesting?
I am not a tax advisor, and you probably want to seek professional advice in your jurisdiction instead.
That said, it would seem very strange to me that merely transferring funds within wallets/...
- 110k
1
vote
Accepted
Do we Need Pay Tax for Mining for US Govt
Do you need to pay Taxes for US Govt for doing Bitcion Mining.?
You are not liable for income tax because:
You are not a US citizen and
You are not working in the USA.
Someone in the USA who is ...
- 28.5k
1
vote
Why do most trading platforms require ID Verification?
KYC and AML are required if the entity is moving money from A to B. Those entities are referred to as MSB (Money Services Business). However crypto exchanges are are not truly MSB's but they still do ...
- 19
1
vote
Accepted
Keep Wallet Safe While Entering United States
The Trezor (and other hardware wallets) use the BIP 39 specification for the recovery mnemonic. If your device is confiscated, you can use the recovery mnemonic to restore your wallet to another ...
- 72.2k
1
vote
Is it legal in Egypt to sell BTC, and is that available there?
According to https://legal-or-not.com/bitcoin/egypt-bitcoin-status/, Bitcoin is legal in Egypt. On the wiki for list of countries on stances on bitcoin, Egypt is not listed.
In 2016, an Egyptian ...
- 122
1
vote
Bitcoin Tax Question
I have several savings accounts that earn bitcoin on bitcoin (Magnr, BTCPop, exchange lending, etc) and I do not convert earned bitcoin back to US dollars (for now). I do keep records of the total ...
- 51.7k
1
vote
Accepted
What bitcoin exchanges are based in the USA?
I might have missed a few, but here are the main ones based in the USA:
Coinbase (not really an exchange)
GDAX (part of Coinbase)
Poloniex
Gemini
Mind you that many other exchanges based out of ...
- 606
Only top scored, non community-wiki answers of a minimum length are eligible