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RE: Cryptocurrency tax question

in #bitcoin8 years ago

Great question ! IF there is'nt a law, they'll create one for sure, it will be interesting to see how they keep up with the ever changing and increasing crypto world. Any thing that is monetized can't be taxed, that's why PM's are not monetized. So capital gains would be calculated from sale, I know in Canada, capital gains are The last 50 % of your gains are taxed at your current rate of income tax. So if your taxed at 40 % of your income, 1000 dollars of gains, you would owe $ 200 in taxes. Better to hold on to your crypto and wait for after the reset , God willing we all survive and hopefully PM's, cryptos are untaxed or at least more reasonably taxed. I've resteemed as well, good question !