/biz/ - Business & Finance

OP, listen to me very closely: do not sell those tokens directly.

If you live in the US, what you want to do is contact a lawyer/tax expert and created what is known as a "charitable remainder trust."

You "contribute" crypto to this trust and can then sell that crypto through the trust on a capital gains tax free basis.

You can then reinvest it into whatever you want (stocks, bonds, currencies, crypto, w/e). In exchange, the trust pays you what is basically an annuity (either fixed or percentage) every year. THAT amount is capital gains taxed, but likely at a more favorable rate. In addition, you get in income tax deduction on the year of trust creation.

You save a lot of money this way, though again I urge you to get a lawyer/tax expert to sign off on this.


PS: If you find this information useful, a small tip in crypto (whatever you deem appropriate) is appreciated.